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Investors look to stay on track...Construction, manufacturing data due

By The Associated Press | Posted - Jul. 1, 2014 at 4:41 a.m.



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NEW YORK (AP) — The stock market is back on track in the second quarter. After a bumpy start to the year, the S&P 500 resumed its upward climb in the March-June period. The index rose 4.7 percent, versus a 1.3 percent gain in the first three months of the year. Yesterday, S&P 500 fell 0.73 points, to 1,960.23, just two points from its record close of 1,962.87 set June 20. The Dow Jones industrial average fell 25.24 points to 16,826.60 and posted a gain of 2.4 percent in the quarter. The Nasdaq composite rose 10.25 points, to 4,408.18, rising 5 percent in the quarter. Futures point to a positive opening today.

TOKYO (AP) — European stock markets rose in early trading today while Asian shares were mixed as investors there appeared to shrug off data showing Chinese manufacturing is regaining momentum. Benchmark U.S. crude oil rose nearer to $106 per barrel. The dollar gained against the euro and the yen.

WASHINGTON (AP) — Two measures of how the economy is faring are due out at 10 a.m. The Commerce Department is to release figures for construction spending in May. The Institute for Supply Management lets go of its manufacturing index for June.

SEOUL, South Korea (AP) — Samsung says dozens of its Chinese suppliers are committing labor violations. The world's largest smartphone maker says an external audit covered 100 of the company's Chinese suppliers in its annual social responsibility report. The violations included minors handling chemicals, failure to provide safety gear and excessive working hours. Samsung came under fire in 2012 over allegations of "inhumane" working conditions.

UNDATED (AP) — Two business surveys released today find that Japan's economy is slowing following a sales tax hike but not as badly as some economists feared. Another survey shows Chinese manufacturing grew in June for the first time in six months but the expansion was weak. And The number of unemployed people in the 18 eurozone countries declined fractionally in May, not enough to bring down the jobless rate, which remained at 11.6 percent compared with a month earlier.

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The Associated Press

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