Market Close for 02 July 2013
by GEI Staff
Gary is on vacation this week.
Stocks faded starting at noon just like yesterday, but this time the averages ended with losses for the day.
U.S. stocks finished Tuesday lower on uncertainty as to when the Federal Reserve will scale back its USD85 billion monthly asset purchasing program, which has sent stocks rising in recent months.
Elsewhere, concerns that the Egyptian military may step in and end a political standoff there pushed stocks down as well.
At the close of U.S. trading, the Dow Jones Industrial Average finished down 0.28%, the S&P 500 index ended down 0.05%, while the Nasdaq Composite index fell 0.03%.
Investors kept a close eye on Friday, when the U.S. Bureau of Labor Statistics will release its June jobs report, which markets hope will act as a weather vane as to when the Fed may begin to dismantle stimulus programs, which send stocks rising as a side effect.
Concerns began to build Tuesday, however, that even if the numbers beat forecasts, whether or not the report meets Federal Reserve expectations to wind down stimulus programs remains to be seen.
The Fed has said it would like to see a rate of around 6.5%, well below the current rate of 7.6%, and the uncertainty steered investors out of equities in a choppy session that saw bullish pressures as well.
Following are the data tables from Investing.com for major markets as of 5:11pm EST. Click on any table for latest live streaming data at Investing.com.