Stocks Surged 1.1% Today, Closing At A Record High For The Third Straight Week

Published Friday, July 9, 2021 at: 5:32 PM EDT

With purchasing manager survey data bolstering a bullish outlook and the Federal Reserve revealing a hike in interest rates is still far off, stocks closed at a record high for the third straight week. The indexes of both monthly surveys of corporate purchasing managers at large businesses fell, but they were coming off record highs. With these indexes administered by the Institute of Supply Management, a reading greater than 50 indicates business expansion, and less than 50 indicates that business is contracting.  The monthly manufacturing sector survey has been conducted for decades and the reliability of the index has been tested over...

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.

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