S&P 500 Index

SPX
4,280.15
+72.88 (+1.73%)
StockTwits Share  Twitter Share  Facebook Share

The CML Close -  Stocks rise, manufacturing and construction data come in weak, some prices have dropped - 07-01-2022




Date Published:



Markets
Stocks rose to start the third quarter following the worst first half of a year in five decades.

Economic data continues to show a slowing economy.

SPX 3,825.33 +39.95 (+1.06%)
NASD 11,127.84 +99.11 (+0.90%)
DJIA 31,097.26 +321.83 (+1.05%)
R2K 1,727.76 +19.77 (+1.16%)
VIX 26.70 -2.01 (-7.0%)
Oil 108.46 +2.70 (+2.55%)

• Manufacturing prices paid showed the lowest reading in five-months.

• ISM Manufacturing PMI fell to it lowest level since May 2022.

• ISM Manufacturing new orders decreased to 49.2 signaling contraction.

• Construction spending fell.

Headlines of the Day
Stocks Finish Higher to Start Second Half
Investors entered the second half of 2022 with the same fears that made the first half the worst start to a year since 1970: Higher inflation, higher interest rates, and a higher risk of a U.S. recession. Yet optimism won the day.

US Manufacturing Growth Weakens to Two-Year Low as Orders Slump
ISM June purchasing managers index falls to 53; est. 54.5. New orders index contracts, sinks to lowest since May 2020.

Wheat Sinks to Pre-War Levels as Recession Fears Grow
Chicago corn tumbles to a five-month low as US acres expand. Soybeans fall about 4% as economic concerns weigh on futures.

US 10-Year Yield Slips Back Below 3% as Recession Fears Grow
The yield on the benchmark 10-year Treasury note dropped back below the psychologically important 3% mark on Thursday as fear of recession increasingly occupies traders’ minds more than inflation.

JPMorgan’s Michele Warns on Recession as Brutal First Half Draws to End
Four-decade veteran says 2022 is most challenging of career

Economic Data Results for 7-1-2022
ISM Manufacturing PMI
The ISM Manufacturing PMI fell to 53 in June of 2022 from 56.1 in May, pointing to the slowest growth in factory activity since June of 2020, and below market forecasts of 54.9.

United States ISM Manufacturing Prices Paid
The ISM Manufacturing Prices subindex in the United States decreased to 78.50 points in June from 82.20 points in May of 2022. It is the lowest reading in five months, below market forecasts of 81.

ISM Manufacturing New Orders
The ISM Manufacturing New Orders subindex in the United States decreased to 49.20 points in June from 55.10 points in May of 2022.

United States Construction Spending
Construction spending in the US fell by 0.1 percent from the previous month to a seasonally adjusted annual rate of USD 1.78 trillion in May of 2022, compared to the upwardly revised 0.8 percent gain in April and market expectations of a 0.4 percent rise.

Economic Data Due Tuesday7-5-2022
Factory Orders MoM MAY

LMI Logistics Managers Index Current JUN

Total Vehicle Sales



Legal

The information contained on this site is provided for general informational purposes, as a convenience to the readers. The materials are not a substitute for obtaining professional advice from a qualified person, firm or corporation. Consult the appropriate professional advisor for more complete and current information. Capital Market Laboratories (“The Company”) does not engage in rendering any legal or professional services by placing these general informational materials on this website.

The Company specifically disclaims any liability, whether based in contract, tort, strict liability or otherwise, for any direct, indirect, incidental, consequential, or special damages arising out of or in any way connected with access to or use of the site, even if we have been advised of the possibility of such damages, including liability in connection with mistakes or omissions in, or delays in transmission of, information to or from the user, interruptions in telecommunications connections to the site or viruses.

The Company makes no representations or warranties about the accuracy or completeness of the information contained on this website. Any links provided to other server sites are offered as a matter of convenience and in no way are meant to imply that The Company endorses, sponsors, promotes or is affiliated with the owners of or participants in those sites, or endorse any information contained on those sites, unless expressly stated."