Did the Markets Maintain the Strong Morning Start?
[Data as of 4:19 PM] Wall Street posted a disappointing performance today after a promising start. Early on, it seemed as if yesterday's optimism was going to continue driving the markets upward. The morning session saw a big upswing when industry reports indicated healthy growth rates in the auto and manufacturing sectors. In particular, Ford (F) announced that this was its best June sales month since 2006. By the late afternoon, this upbeat outlook began to fizzle as the markets lost momentum.There was a lingering skepticism towards bonds all day despite Fed officials' recent attempts to calm the market. DaVita Healthcare (DVA) slipped even further as concerns continued over possible future Medicare cuts. By the closing bell, the Dow Jones industrial average dropped 42.55 points to 14,932.41 while the Nasdaq fell 1.09 points to finish at 3,433.40. The S&P 500 posted a nominal 0.88 point drop to close out the day at 1,614.08.
Word on the Street
- What's going on with bonds? Why are investors so concerned?
- Will the upcoming job report be good or bad? Find out what the analysts are predicting.
- Tyco (TYC) gets slammed with a monster bill after audit.
- Zynga bets the farm on Microsoft's former Xbox guru,Don Mattrick.
- Commerce Department reports spike in factory orders.
Published on Jul 2, 2013By InvestorGuide Staff