The Chicago Purchasing Managers’ Index rose from 49.1 in May to 49.6 in June, topping the forecast of a drop to 48.1. New orders slowed from 56.1 to 52.0, but employment did not fall as much as May, rising from 41.2 to 46.7. Pricing pressure remains a big problem for manufacturers. Details from Bloomberg...
The Dow Jones Industrial Average rose 4 points to close at 11,350, the S&P 500 Index gained 2 points (0.1%) to 1,280, and the Nasdaq Composite fell 23 points (1.0%) to 2,293. Crude oil fell $0.21 to $140.00 per barrel, and gold dipped $3.10 to $928.20 per ounce. For the quarter, the DJIA closed 7.4% lower, the S&P 500 Index was down 3.2%, and the Nasdaq Composite rose 0.6%.
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