Markets are mixed after the first batch of economic data on this busy holiday-shortened week.
The Dow is up 1 point, the S&P 500 is up 2 points, and the Nasdaq is up 8 points.
On the economic data front, the June Chicago PMI report came in at 62.6, a bit below expectations for a 63 reading. This was also worse than the 65.5 reading in May. Following the report, Ian Shepherdson said, “In one line: Heavily influence by Boeing orders, but positive nonetheless.”
Housing data beat expectations, as pending home sales jumped 6.1% in May. Economists were expecting home sales to climb 1.2%.
The Dallas Fed’s latest manufacturing survey came in at 11.4, beating expectations for a reading of 8.5.
The Institute for Supply Management-Milwaukee’s report for June fell to 60.57 from 63.49 in May. Expectations were for a reading a 60.
In corporate news, GoPro shares are surging again, gaining as much as 10% in morning trade.
Over the weekend, Goldman Sachs’s David Kostin noted that merger activity is on pace to total $US1.5 trillion this year, which would trail only 2007.
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