STOCKS RALLY: Here's What You Need To Know

american flagU.S. sailors unravel a huge American flag across the field during opening day ceremonies before the San Diego Padres host the Los Angeles Dodgers in their MLB National League baseball game in San Diego, California, April 9, 2013.

It was a half-day in the stock market.

First, the scoreboard:

  • Dow: 15,023.4, +90.5, +0.6%
  • S&P 500: 1,617.8, +3.8, +0.2%
  • NASDAQ: 3,451.0, +18.0, +0.5%

And now, the top stories:

  • The U.S. stock markets opened in the red and then went straight up into the 1:00 p.m. ET close.
  • We got three big economic reports today.  First was the ADP employment survey, which showed that private companies added 188,000 jobs in June.  This was up from 134,000 in May.  It was also much better than the 150,000 expeted by economists. The job market continues to gracefully navigate through the strongly blowing fiscal headwinds. Health Care Reform does not appear to be significantly hampering job growth, at least not so far,” said Moody’s Mark Zandi. “Job gains are broad based across industries and businesses of all sizes.”
  • Initial weekly jobless claims fell to 343,000 from 348,000 a week ago. This was a tad lower than the 345,000 expected by economists.  “Initial jobless claims continue their sub-350k readings, hinting that any near-term payroll weakness is temporary,” tweeted Deutsche Bank’s Joe LaVorgna.
  • The June ISM services index was a bit mixed.  The headline number unexpectedly fell to 52.2 in June from 53.7 in May.  This was worse than the 54.0 expected by economists.  But on the bright side, the employment sub-index climbed 4.6 points to 54.7.
  • The U.S. markets will be closed for Independence Day tomorrow.  But we’ll be back on Friday. That’s when we’ll get the big June jobs report from the Bureau of labour Statistics.
  • Don’t Miss: JPMorgan Put Together The Ultimate Guide To The Market Right Now »

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