Monday’s Midday Movers: 3 Stories Driving Markets
The major U.S. stocks were slowly rising Monday to start off the week. As of noon:
|DIJA: +0.18% to 15037.47||S&P 500: +0.25% to 1667.74||NASDAQ: +0.58% to 3679.09|
|Gold: -0.16% to 80.82||Oil: -0.44% to 24.96||U.S. 10-Year: -0.96% to 27.91|
Here are three stories helping shape the market Monday afternoon.
1. Manufacturing Activity Eases in July on Soft Demand: Economic headwinds buffeted U.S. manufacturing into contraction in July. According to a report from the U.S. Department of Commerce, new orders for manufactured durable goods decreased 7.3 percent on the month to $226.6 billion. The decline was led by a tremendous 19.4 percent contraction in new orders for transportation equipment to $69.7 billion.
Excluding transportation orders, which are often volatile, new orders decreased just 0.6 percent, a much more moderate though still unexpected decline. Economists were forecasting an increase of 0.3 percent for the month… (Read more.)