Jul 3, 2014

Morning Market Report

A strong start to the financial year on local and international markets.

The market is up 30 points. The Dow Jones was up 20 points at 16,976 — The market rose strongly on the opening with good economic data but then traded in a narrow range for the rest of the day. The S&P rose one point and the NASDAQ was down one. Consumer stocks were the best performers, while Energy and Financials lagged. Volume was below average and the market traded in a 37 point range, the narrowest for the year.

US economic data was stronger — The ADP was much stronger than expected (281K actual v. 200K expected), increasing assumptions that tomorrow’s jobs report will beat estimates. But factory orders and the MBA Mortgage Index were below estimates.

Free Trial

Proudly annoying those in power since 2000.

Sign up for a FREE 21-day trial to keep reading and get the best of Crikey straight to your inbox

By starting a free trial, you agree to accept Crikey’s terms and conditions


Leave a comment

Share this article with a friend

Just fill out the fields below and we'll send your friend a link to this article along with a message from you.

Your details

Your friend's details