Markets Start July On a Positive Note

July 1st, 2013
in Gary's blogging, syndication

Gary is off this week - and Econintersect is therefore providing the market open from our syndication partner Investing.com:

European stocks remained higher on Monday, after the release of mixed euro zone data, while uncertainty over the future of the Federal Reserve's stimulus program persisted.

During European afternoon trade, the EURO STOXX 50 climbed 0.65%, France’s CAC 40 advanced 0.65%, while Germany’s DAX 30 added 0.28%.

Follow up:

Official data showed that the unemployment rate in the euro zone ticked up to 12.1% in May from 12% in April, compared to expectations for a reading of 12.3%.

Another report showed that consumer price inflation in the euro zone rose to 1.6% in June from 1.4% in May, in line with expectations.

Meanwhile, investors remained cautious amid expectations that the Fed will soon start tapering its USD85 billion-a-month bond buying program. Investors were awaiting Friday’s U.S. nonfarm payrolls data, with good data set to bolster the dollar further.

U.S. stocks opened higher on Monday, as investors eyed the upcoming release of U.S. manufacturing data amid ongoing uncertainty over the future of the Federal Reserve's stimulus program.

During early U.S. trade, the Dow Jones Industrial Average advanced 0.72%, the S&P 500 index climbed 0.80%, while the Nasdaq Composite index rallied 0.92%.

Markets were jittery amid expectations that the Fed will soon start tapering its USD85 billion-a-month bond buying program. Investors were awaiting Friday’s U.S. nonfarm payrolls data, with good data set to bolster the dollar further.

Investors also remained cautious after the release of mixed Chinese manufacturing reports.

China’s official manufacturing purchasing managers’ index came in at 50.1 in June, above expectations for 50.0, following a reading of 50.8 in May.









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