Fisher Investments Reviews: Last Week in Markets—July 6 - July 10

In the US, the June final S&P Global Services Purchasing Managers’ Index (PMI) was 51.2, lower than expected. Readings above 50 indicate expansion.

In the eurozone, May retail sales grew 0.2% m/m and 1.6% y/y, both in line with consensus estimates.

In Japan, June bank loans increased 5.7% y/y, slightly below expectations. In China, June consumer inflation slowed to -0.3% m/m and 1.0% y/y.

The Week Ahead:
The UK and China report GDP. The US and eurozone release June inflation data. The US, UK, eurozone, Japan and China report industrial production, and the US and UK report manufacturing production. The US, Japan and China release retail sales data. China reports trade data, money supply (M2) and loan growth.

Source for all data cited is FactSet. This update constitutes the general views of Fisher Investments and should not be regarded as personalized investment advice. No assurances are made we will continue to hold these views, which may change at any time based on new information, analysis or reconsideration. In addition, no assurances are made regarding the accuracy of any forecast made herein. Global equities are represented by the MSCI World Index. The MSCI World Index measures the performance of selected stocks in 23 developed countries and is presented net of dividend withholding taxes and uses the maximum rate applicable to non-resident institutional investors who do not benefit from double taxation treaties. Past performance is no guarantee of future results. A risk of loss is involved with investments in stock markets.