Weekly Market Wrap: July 2, 2015
Metals Channel - Thursday, July 2, 2:13 PM
The twenty-sixth full trading week of 2015 comes to a close with the Dow Jones, S&P 500 and the NASDAQ composite lower on the day, in early afternoon trading on Thursday.
Most actively traded stocks include Bank of America (BAC) down 1.68%, Advanced Micro Devices (AMD) up 3.3%, Vale (VALE) higher by 0.43%, and Micron Technology (MU) up 1.73%.
The S&P 500, Dow and NASDAQ are all lower over the last five trading days.
Crude oil futures are significantly lower this week, trading at $57.25 per barrel on Thursday afternoon.
And Gold futures are lower this week, trading at $1164.79 an ounce this afternoon.
In economic news, in the week ending June 27, the advance figure for seasonally adjusted initial claims was 281,000, an increase of 10,000 from the previous week's unrevised level of 271,000. The 4-week moving average was 274,750, an increase of 1,000 from the previous week's unrevised average of 273,750.
The advance seasonally adjusted insured unemployment rate was 1.7 percent for the week ending June 20, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending June 20 was 2,264,000, an increase of 15,000 from the previous week's revised level. The previous week's level was revised up 2,000 from 2,247,000 to 2,249,000. The 4-week moving average was 2,252,500, an increase of 15,000 from the previous week's revised average. The previous week's average was revised up by 500 from 2,237,000 to 2,237,500.
Total nonfarm payroll employment increased by 223,000 in June, and the unemployment rate declined to 5.3 percent, the U.S. Bureau of Labor Statistics reported. Job gains occurred in professional and business services, health care, retail trade, financial activities, and in transportation and warehousing.
The unemployment rate declined by 0.2 percentage point to 5.3 percent in June, and the number of unemployed persons declined by 375,000 to 8.3 million.
The number of long-term unemployed (those jobless for 27 weeks or more) declined by 381,000 to 2.1 million in June. These individuals accounted for 25.8 percent of the unemployed. Over the past 12 months, the number of long-term unemployed has declined by 955,000.
In corporate dividend news, General Mills (NYSE:GIS) declared a quarterly dividend at the prevailing rate of 44 cents per share, payable August 3, 2015, to shareholders of record July 10, 2015. The General Mills quarterly dividend rate was most recently increased 7 percent effective with the May 1, 2015 payment.
Constellation declared a quarterly cash dividend of $0.31 per share of Class A Common Stock and $0.28 per share of Class B Common Stock, payable on August 25, 2015 to stockholders of record as of the close of business on August 11, 2015.
McCormick & Company (NYSE:MKC) declared a quarterly dividend of $0.40 per share on its common stocks payable July 27, 2015, to shareholders of record on July 13, 2015.
AT&T (NYSE:T) declared a quarterly dividend of $0.47 a share on the company's common shares. The dividend is payable on August 3, 2015, to stockholders of record at the close of business on July 10, 2015.
Acuity Brands (NYSE:AYI) declared a quarterly dividend of 13 cents per share. The dividend is payable on August 3, 2015 to shareholders of record on July 20, 2015.
And, PNC declared a quarterly cash dividend on the common stock of 51 cents per share. The dividend is payable on Aug. 5, 2015 to shareholders of record at the close of business July 15, 2015.
This is the 'Weekly Market Wrap' for Thursday, July 2, 2015.
Please join us on Monday for the Week Ahead Market Report.