U.S. manufacturing stumbles for the second straight month with durable goods declining 1.1% to $2.28 bn in May driving the decrease was transportation equipment according to data released by the US Dept of Commerce.
The data is seen as a measure of business investment in new euipment. Soft data was echoed in mixed trading today as the Dow, which opened higher at 21,434,68 closed 14.79 points or +0.07% to 21,409.55.
The S&P 500 edged up +0.03% to 2,439.07. Utilities and banks offset the decline in technology stocks. The latter sent Nasdaq drifting -0.29% lower.
The dollar rose against the Euro. The pound was up $1.27 as the Bank of England signalled an increase in interest rates this year.
- Dow 21,409 +0.07%
- S&P 500 2,439 +0.03%
- Nasdaq 6,247 -0.29%
- Russell 2000 1,416 +0.13%
- NYSE Composite 11,758 +0.22%
- Gold 1,244.50 +0.16%
- Oil WTI $43.49 +0.05%
- 10-Year Yield 2.14% 0.01
There was an uptick in the price of brent crude oil for the third session with WTI crude futures for August but prices have stayed firmly at the lower end of the $40 to $55 range.
FirstEnergy led the gainers up +4.08% on the back of a clutch of regulatory approvals which should lead to an increase in annual distribution revenue. Natural gas company, EQT, continued upward +3.84% boosted by its deal last week with Rice Energy.