The ISM Non-Manufacturing Index unexpectedly increased in July, rising from 53.8 in June to 54.3, marking the seventh month above the 50.0 level. The prices paid component dipped from 53.8 to 52.7. There was a solid increase in new orders for the non-manufacturing sector, increasing from 54.4 to 56.7, snapping a three-month string of declines. Details from Bloomberg...
The ADP Employment Change Report showed private sector payrolls increased by 42,000 jobs in July, compared to the forecast of economists, which called for a 30,000 increase. June’s 13,000 job increase was upwardly revised to a 19,000 gain.
The Dow Jones Industrial Average gained 44 points (0.4%) to close at 10,680, while the S&P 500 Index rose 7 points (0.6%) to finish at 1,127, and the Nasdaq Composite increased 20 points (0.9%) to 2,304. Crude oil fell $0.09 to $82.46 per barrel, and the Bloomberg gold spot price gained $7.90 to $1,194.05 per ounce.
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