* Dow under pressure on the back of EU talks with Greece * There is a lot of room for the market to decline pending the Fed's announcements * The consensus is that rates will hike September or later * If Fed does not rates in September, Election year next year might also put off rate hikes * Bloomberg article quotes B of A hinting that additional stimulus would further damage the economy * B of A admits this risk has been getting the least amount of attention * Empire State Manufacturing Index missed 5.9 forecast - came in at -1.98 * May Industrial Production expected +.2 - came in at -.2 * Capacity Utilization dropped 78.3 to 78.1 * Manufacturing down .2 * Industrial Production has been negative for 4 of the last 6 months * Currency markets still believe Fed will raise rates * Consumer spending was up in May because of rise in gas prices * Weekly Jobless claims saw a slight uptick - exceeded forecast * Bloomberg Consumer Comfort Index continues to decline * Listener's Questions, Peter's Answers to resume on this podcast * Submit your questions on schiffradio.comOur Sponsors:* Check out TruDiagnostic and use my code GOLD20 for a great deal: https://www.trudiagnostic.comPrivacy & Opt-Out: https://redcircle.com/privacy