djia futures are well down...., page-29

Great to see the comeback......ISM data not bad either.....


The latest ISM Index indicated that manufacturing activity expanded during June, coming in at 50.2 and topping the 48.5 reading that was widely expected. The report provided participants a dose of evidence that economic conditions are not as gloomy as some would contend.

Additionally, May construction spending fell 0.4% month-over-month. Economists forecast a 0.6% downturn. More importantly, nonresidential construction spending was up 0.2% in May, which follows a 1.6% increase for April. The increases help provide support to expanding GDP.

Despite the positive implications of the economic data, investors turned away from the reports as the financial sector traded without clear direction. Before finishing 1.0% higher, the sector had traded with a loss of nearly 2.8%. As financials lost ground, so, too, did the major indices as concerns related to financial stocks continue to weigh on investors.

Also feeding investor pessimism, crude ended its session on the Nymex $1.06 higher at $141.06 per barrel. Oil prices have been rising, in part, due to a weaker dollar. The dollar index closed 0.1% lower at 72.4. Notably, heightened