June ISM = 53.5

Welcome to the back half of the year. The S&P 500 rose just 0.2% during the first six months of the year. That’s the worst start since 2010. Let’s hope the rest of the year is better. Today’s ISM Manufacturing report came in at 53.5. That’s still well within the safe zone.

ADP said that the economy created 237,000 new private sector jobs last month. Not bad. The big June jobs report comes out tomorrow.

The Commerce Department said that construction spending rose 0.8% in May. It’s now at a 6-1/2 year high.

The S&P 500 bounced off Monday and Tuesday’s low, and is nicely higher today. The index bottomed out at 2,056.64 on Monday and 2,056.32 on Tuesday.

Posted by on July 1st, 2015 at 11:17 am


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