Stock Market Update

[BRIEFING.COM] The major averages continue their steady retreat, seated just above session lows as the market enters the final half hour of trading. 

Breadth figures reflect a steady increase in selling activity throughout today's session, with decliners outpacing advancers by a roughly 5-to-4 margin on the NYSE and a roughly 3-to-2 margin on the Nasdaq. 

Crude oil fell to its lowest closing level since early June, settling $0.49 (-0.8%) lower at $63.85 per barrel. 

Consumer credit increased by $7.4 billion in June (Briefing.com consensus: $8.6 billion) following an unrevised $5.1 billion increase in May.

The key takeaway from the report is that the entirety of the consumer credit expansion in June was driven by nonrevolving credit.