Fed's National Activity Index Contracts For 7th Straight Month - Longest Streak Since 2009

Against hope-filled expectations of 0.08 print, Chicago Fed's National Activity Index disappointed once again, down 0.02 in June. This is the seventh month of declines in a row - the longest streak of contraction since the financial crisis.

36 indicators improved from May to June, while 49 indicators deteriorated (but of the indicators that improved, nine made negative contributions).

40 of the 85 monthly individual indicators made positive contributions, while 45 indicators affected the index negatively.

Only the 'employment'-related indicators suggested growth in June...

And this is all happening with stocks at record highs?