Market preview: Benchmark S&P -0.5% after China increased interest rates and yesterday's...

|By:, SA News Editor
Market preview: Benchmark S&P -0.5% after China increased interest rates and yesterday's Portugal downgrade. European sovereign CDS and bond spreads are spiking. At home, the June Challenger Report and retail sales (I, II) data provide mixed reading. A group including Berkshire Hathaway is reportedly in talks to buy Citigroup's consumer-lending unit. Later: ISM non-manufacturing.