Tuesday, July 03, 2007
Holiday Joy!
Merger news and strong manufacturing data lead to strong gains across the markets yesterday. The Dow added on 126.81 points to close at 13,535.43. The SPX added 16.08 points to end on 1,519.43. We are in green and looking ok.
The ISM Mfg. Index got things kicked off to a good start. This measure of manufacturing activity for June rose to 56.0 from 55.0 in May, which happens to be a 14-month high. Though the employment component remained a bit soft, production rose above 60 and this could result in improved employment numbers in the months to come.
Also there was lots of merger news and bond yields fell which helped the markets as well.
Today will no doubt see more rises as the good mood returns before the July 4th holiday.
Until next time.
The ISM Mfg. Index got things kicked off to a good start. This measure of manufacturing activity for June rose to 56.0 from 55.0 in May, which happens to be a 14-month high. Though the employment component remained a bit soft, production rose above 60 and this could result in improved employment numbers in the months to come.
Also there was lots of merger news and bond yields fell which helped the markets as well.
Today will no doubt see more rises as the good mood returns before the July 4th holiday.
Until next time.
# posted by Paul @ 5:36 AM 
