The jump in Q2 unit labor costs seems to be due to a benchmark revision. Costs had fallen 0.3% in Q1 is well. The four-month average on unit labor costs is 2.625%, which reflects declining productivity.
The Dow Jones industrial average rose 8.15 points, or 0.04 percent, to 18,409.03, the S&P 500 lost 0.06 points to 2,170.89 and the Nasdaq composite rose 6.27 points, or 0.12 percent, to 5,219.49.
Billionaire money manager Bill Gross said negative interest rates are turning assets into a liability stifling the capitalist system.
- USDJPY: 103.59
- EURUSD: 1.1164
- S&P 500: 2,168.30
- NASDAQ : 5,218.63