Scoreboard: Earnings anxiety

US markets fell as investors let their pre-earnings season jitters show, while European bank shares slumped amid the threat of further US fines.

In US economic data, consumer credit rose by $US19.6 billion in May -- in line with expectations. US Minneapolis Fed President Kocherlakota (voter, dove) spoke overnight, saying that the improvement in the unemployment rate overstates the degree of healing in the labour market. In addition he stated that it was more likely inflation would come in below the Fed's 2 per cent target over the next year than above it.


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