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Daily Market MoversThe following news stories, economic reports, and statistical tables are selected and compiled by founder John F. Gallwas, who has been an active participant in the financial service industry since January of 1958.
FridayBB: Greece is divided right down the middle heading into Sunday’s referendum on European bailout proposals, portending even more upheaval for the stricken nation.
WS: The Shanghai Composite Index closed down 5.8% on Friday and has lost more than a quarter of its value since June, while the Shenzhen market fell 5.3% and the small-cap ChiNext board lost 1.7%.
ThursdayWS: U.S. employers steadily added jobs in June, but wages were flat and the participation rate fell, suggesting pockets of weakness remain in the labor market.
R: A defiant Prime Minister Alexis Tsipras urged Greeks to reject an international bailout deal, wrecking any prospect of repairing broken relations with European Union partners before a referendum on Sunday that may decide Greece's future in Europe.
WednesdayGallup: The U.S. Job Creation Index measured +32 in June, tying the record high set the month before. The index increased to +36 in the Midwestern region of the U.S., but dropped slightly in the East to +27.
Gallup: The U.S. Payroll to Population employment rate was 45.5% in June, up from May and the highest rate since October 2012. Workforce participation rose 0.3% to 67.1%, and unemployment was down slightly to 6.0%.
TuesdayBB: Home prices in 20 U.S. cities rose at a slower pace than projected in April, indicating the market was experiencing uneven gains as it entered the busier selling season.
WS: China’s shares reversed a recent sharp selloff, as investors elsewhere in Asia push off concerns about a default in Greece until the outcome of a referendum next Sunday. The Shanghai Composite Index closed up 5.5%, after falling more than 5% earlier. The index is still off 17% from its June 12 high.
MondayBB: Contracts to purchase previously owned U.S. homes rose less than expected in May, but to a nine-year high, indicating recent strength in the real-estate industry will be sustained.
BB: Chinese stocks tumbled -3.3%, sending the benchmark index into a bear market, as signs of an exodus by leveraged investors overshadowed the central bank’s effort to revive confidence with an interest-rate cut.
Economic Reports for the Week ending Friday - July 4, 2015
Last Week's Scorecard
* Local currencies
We do not guarantee accuracy of any of the data on this page. If you have any comments or suggestions, please contact William Gallwas or call 800-669-8838
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