News Column

Construction, Manufacturing Give Markets a Boost

July 1, 2013
wall street

U.S. markets posted gains Monday, helped by higher construction spending and a slight rebound in British and U.S. manufacturing.

The Census Bureau News said construction spending for the first five months of 2013 rose 6.2 percent over the same period of 2012, climbing to $326.2 billion.

In the United States, the Purchasing Managers Index for manufacturing rose from a slightly negative 49 in May to a slightly positive 50.9 in June, the Institute of Supply Management said.

The PMI for manufacturing in Britain, Markit Economics said, climbed to a 25-month high as it reached 52.5.

On Wall Street, the blue-chip Dow Jones industrial average added 65.36 points, or 0.44 percent, to 14,974.96. The Standard & Poor's 500 gained 8.68 points, or 0.54 percent, to 1,614.96. The tech-heavy Nasdaq index gained 31.24 points, or 0.92 percent, to 3,434.49.

On the New York Stock Exchange, 2,202 issues advanced and 872 declined on a volume of 3 billion shares traded.

Japan's Nikkei 225 index added 175.18 points, 1.28 percent, to 13,852.50.

Britain's FTSE 100 index gained 1.49 percent, or 93.31 points to 6,307.78.

The 10-year treasury note rose 4/32 to yield 2.476 percent.

On currency markets, the euro fell to $1.3064. Against the yen, the dollar was higher at 99.61 yen.

Gold gained $28.80 or 2.35 percent to $1,252.60 an ounce on the New York Mercantile Exchange's Comex division.

In after-hours trading, crude oil prices added $1.44 to $98 per barrel on the York Mercantile Exchange.

On the Chicago Board of Trade, December corn dropped 9 cents at $5.02, November soybeans shed 11 cents to $12.41 and wheat for September contracts shed 1 1/4 cents to $6.56 1/2.




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Source: Copyright UPI 2013


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