The U.S. Commerce Department said that real GDP was up .3% in the second quarter and up 1.5% from a year ago, weaker than expected. The September 2012 eurodollars are trading higher.

The U.S. Labor Department said that the employment cost index was up .7% in the second quarter and up 2.2% from a year ago.

The Chicago Purchasing Managers index fell from 61.1 to 58.8 in July, weaker than expected.

The University of Michigan's consumer sentiment index fell from 63.8 to 63.7 in July, less than hoped.

The USDA said that China bought 220,000 tons of U.S. soybeans for 2011-2012. November soybeans are trading lower.

Thursday's 6 to 10 day forecast from the National Weather Service is expecting above average temperatures in the southern U.S. from New Mexico to the Carolinas. December cotton is trading lower.

Housing starts in Japan were up 5.8% in June from a year ago, the third consecutive monthly increase. November lumber closed down $6.00 at $262.00.

December gold closed up $15.00 at $1,631.20 after today's weak GDP reports from the U.S. and Canada and with no solution for the U.S. debt ceiling. September copper was up a penny at $4.4795.

October crude oil is lower after weak GDP reports from the U.S. and Canada.

Japan's unemployment rate increased from 4.5% to 4.6% in June. The consumer price index was up .2% in June from a year ago. Industrial production was up 3.9% in June and household spending was up .8%. Also, Japan's Finance Ministry improved its assessments of 8 of Japan's 11 regions. The September yen is trading higher, boosted by today's bad news in the U.S. and Canada.

Statistics Canada said that real GDP was down .3% in May and up 2.2% from a year ago. The September Canadian dollar is trading lower.

Eurostat estimated that consumer prices in the Euro area were up 2.5% in July from a year ago, down from a 2.7% annual gain in June.

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