Market Update Report 7/1/2015 | Beacon Rock Wealth Advisors

The KUIK Market Update for Wednesday, July 1:

Markets are up.

Index	Direction	Change	Units		Time	Change
Dow	Up	97	points	17,717	7:52 AM
S&P500	Up	0.6%	percent	2,076		12.82
Nasdaq Composite	Up	0.6%	percent	5,015		28.00
30 Year Treasury	Up	8	Basis Points	3.18	Annual Yield

YesterdayGreece became the first advanced economy to default on a payment to the International Monetary Fund, when it failed to hand over the 1.6 billion euros due. That failure and the expiration of Greece’s bailout package, brings the country to the brink of financial collapse and raises the chances it could “Grexit” from the European Union. Markets rallied on a report early today that Greek Prime Minister Alexis Tsipras, in a letter to the country’s creditors, said he was willing to accept the terms presented in a proposal made last weekend with only minor changes.

The Institute for Supply Management said its manufacturing index rose to 53.5% last month from 52.8% in May, matching its highest level this year. and above the 53.2 forecast of economists. Readings over 50% indicate more companies are expanding instead of shrinking. Both employment and new-orders rose.

The Commerce Department reports outlays for U.S. construction projects rose 0.8% in May to a seasonally adjusted annual rate of $1.04 trillion. Economists expected only 0.5% growth. It revised April to 2.1%. Spending rose 0.3% for residential projects, 1.5% for nonresidential, and 0.7% for public.



Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.

http://www.marketwatch.com/story/greek-debt-crisis-latest-news-on-wednesday-2015-07-01
http://www.marketwatch.com/story/us-manufacturers-grew-in-june-at-fastest-rate-in-five-months-ism-2015-07-01
http://www.marketwatch.com/story/may-construction-spending-up-08-2015-07-01-1091422


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