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KiplingerJul 01, 2022
Stock Market Today: Stocks Catch a Second Wind to Start Second Half
U.S. equities managed to escape negative territory Friday and finish in the black despite some downbeat economic data - a welcome beginning to 2022's second half after a dreadful performance through the midway point.

Front and center Friday was the Institute for Supply Management (ISM) manufacturing index, which delivered its weakest reading in two years. The index's June reading of 53.0, which was down considerably from May's 56.1, fell well below economists' forecasts for 54.5 and marked its lowest point since June 2020.

SEE MORE The 15 Best Stocks to Buy for the Rest of 2022 "The new orders component was particularly rough," say Wells Fargo economists Tim Quinlan and Shannon Seery. "It slipped 5.9 points to 49.2, which marks the first contraction reading since May 2020, when the economy was coming out of pandemic-related lockdowns."

The pair add that while the report demonstrates slower manufacturing activity, supply problems are continuing to ease. "In short, the report piles onto weaker consumer data received this week and signals investment spending is starting to weaken too."

From a sector standpoint, utilities ( 2.5%) and real estate ( 1.8%) were among Friday's biggest winners as investors appeared to chase yield. But the most noteworthy individual equities were heading in the other direction. Kohl's (


USA Today MoneyJul 01, 2022
Shop the 60 best 4th of July sales at Amazon, Walmart, Lowe's and more
Independence day is just days away and 4th of July sales are already here. Shop huge markdowns at Amazon, Target, Walmart and so much more.      
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