Stock Market Update

[BRIEFING.COM] As the market enters the final half hour of today's action, the S&P 500 (+0.1%) and DJIA (+0.1%) defend their flatlines while the Nasdaq Composite (+0.4%) still holds a modest gain.

Consumer credit increased by $16.0 billion in July (Briefing.com consensus: $10.5 billion) following a downwardly revised $4.3 billion decline (from $7.4 billion) in June.

The key takeaway from the report is that the expansion in consumer credit was driven by revolving credit, which saw the largest jump since January 2024. That might be construed as a sign that consumers are using credit cards more to fund everyday purchases in the face of higher costs, but noticing the jump in nonrevolving credit in July suggests that may not be fully accurate in a broad sense.