An unexpected rise in manufacturing activity in June sparked jubilation on Wall Street and sent stock prices higher on July 1st. At midday Friday the Dow Jones Industrial Average was up more than 1%.
The Institute for Supply Management (ISM) reported Friday that its manufacturing index rose to 55.3% in June from 53.5% in May. That’s especially impressive since outside observers had been expecting the index to go down, not up.
Most radio and television stocks were up at midday Friday along with the market.
US stock markets will be closed Monday, July 4th, in observance of Independence Day.