Economic Overview - U.S. pre-market futures are at peak highs, with the Dow up 185 points, S&P 500 up 35 points, and Nasdaq up 120 points, indicating a healthy market environment [1] - The small-cap Russell index is up 20 points, showing recovery from a previous selloff, with Q2 earnings season exceeding expectations across various industries [2] Productivity and Labor Costs - U.S. Productivity in Q2 increased by 2.4%, surpassing the expected 1.9%, marking a significant recovery from the previous quarter's -1.8% [3] - Unit Labor Costs rose by 1.6%, slightly above the estimated 1.3%, and down from a revised 6.9% in Q1, indicating improved economic conditions [4] Employment Data - Initial Jobless Claims rose to 226K, 5K higher than estimated, but still below the near-term high of 250K reported in early June [5] - Continuing Jobless Claims reached 1.974 million, the highest since November 2021, but still below the psychologically significant 2 million mark [6] Company Earnings Reports - Eli Lilly reported Q2 earnings of $6.31 per share, exceeding the $5.61 estimate, with revenues of $15.56 billion, up 5.5% [7] - Despite strong earnings, Eli Lilly's shares fell 7% due to disappointing performance of its new obesity pill, which had a 12% weight loss rate [8] - Warner Bros. Discovery reported earnings of $0.63 per share, significantly better than the expected -$0.16, with revenues of $9.81 billion [9] - Ralph Lauren's fiscal Q1 earnings were $3.77 per share, beating the $3.48 estimate, with revenues of $1.7 billion, up 14% year over year [10] Upcoming Economic Data - Wholesale Inventories for June and Consumer Credit data will be released later today, following a previous Consumer Credit increase of $5.1 billion [11]

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or a ...

Core Insights - The article does not provide specific company or industry insights, focusing instead on disclosures and disclaimers related to investment positions and advice [1][2] Group 1 - There are no stock, option, or similar derivative positions held by the analyst in any mentioned companies [1] - The article expresses personal opinions and is not compensated beyond Seeking Alpha [1] - The views may not reflect those of Seeking Alpha as a whole, and the analysts may not be licensed or certified [2]

Market Overview - Pre-market futures show positive movement with the Dow up +0.12%, S&P 500 +0.09%, Nasdaq +0.16%, and Russell 2000 leading at +0.52% [1] Bond Market - Bond yields remain stable with the 10-year yield at +4.44%, a slight increase of 3 basis points from last Friday, while the 2-year yield is at +3.88% and the 30-year yield at +5.00% [2] Housing Market - Housing Starts for June are reported at 1.32 million, slightly above projections, but still historically low compared to multi-year highs of 500K more in April 2022 [3] - Building Permits increased to 1.397 million from 1.394 million in May, but remain low compared to nearly 2 million in January 2022, prior to interest rate hikes [4] Company Earnings - 3M reported Q2 earnings of $2.16 per share, exceeding expectations of $2.01, with revenues of $6.2 billion, raising full-year 2025 earnings guidance to $7.75-8.00 per share [5] - American Express surpassed Q2 expectations with earnings of $4.08 per share and revenues of $17.9 billion, reflecting a year-over-year growth of +9% [6] - Charles Schwab's Q2 report showed earnings of $1.14 per share and revenues of $5.85 billion, both exceeding consensus estimates, with shares up +5% in pre-market trading [7] Economic Indicators - A preliminary print on Consumer Sentiment for July is expected to improve to 61.8 from 60.7, aligning with a healthier economic outlook as fears of tariffs impacting the economy have lessened [8]

Core Insights - The article does not provide specific company or industry insights, focusing instead on disclosures and disclaimers related to investment positions and advice [1][2] Group 1 - There are no stock, option, or similar derivative positions held by the analyst in any mentioned companies, nor plans to initiate such positions within the next 72 hours [1] - The article expresses personal opinions of the author and does not reflect the views of Seeking Alpha as a whole [2] - Seeking Alpha's analysts include both professional and individual investors who may not be licensed or certified by any regulatory body [2]