More weak economic news in the form of a disappointing US manufacturing report sunk stocks early on Monday, but hope that such an economic slow down might stimulate action from the world’s central banks pushed the Dow and S&P 500 to near the unchanged level for the day on Monday. A holiday-shortened session on Tuesday recouped some of Monday’s losses. The markets reopened on Thursday after the 4th of July holiday, but did not behave as expected, with moderate losses experienced by the major indexes despite positive US private-sector job news and the lowering of interest rates by both China and the European Central Bank. The slide accelerated on Friday following the release of a US labor report indicating that fewer jobs than expected had been created in June, while the unemployment rate remained unchanged at 8.2%.
[table id=70 /]

Stocks fell worldwide on Monday as further impatience with a lack of progress in the Eurozone debt crisis caused the world’s major indexes to plummet 1-2%. On Tuesday, modest gains were had by the market on somewhat positive US housing data. The S&P 500 added nearly a percent on Wednesday on a report that May home sales beat expectations. Oil also rose back above $80/barrel. On Thursday, stocks started the day down, and fell further after news that Obamacare was upheld by the Supreme Court. However, the markets rebounded at the end of the day when rumors of a potential Euro debt solution began to circulate. The major indexes finished the week on Friday in a big way on very positive news out of Europe, in which European leaders agreed to appoint one supervisor to oversee all of Europe’s banks. Such progress spurred the Dow to gain almost 278 points, while the S&P 500 logged its largest gain of 2012.

[table id=69 /]

The major indexes were mixed on Monday with the NASDAQ logging a nice gain, while the Dow slipped modestly, as eyes remain on the ongoing Greece/Spain financial woes. On Tuesday, all the indexes participated in a 1% gain as the hope for further government stimulus drove investors to buy more stock. Stocks failed to maintain the rally on Wednesday when the Fed held off on making any aggressive financial moves, instead opting only to extend the Treasuries buy/sell program Operation Twist until the end of the year. The bottom fell out Thursday with a 2% loss for the Dow, as a combination of weak international economic reports coupled with disappointment over the Fed’s lack of action sent stocks spiraling. Oil dropped to less than $80/barrel. The week ended on Friday on an up note, although the gain was not large enough to give the Dow or the S&P 500 a win for the week.

[table id=68 /]

The Dow snapped a 4-day winning streak when it closed down 1.1% on Monday. Despite early optimism, stocks sank as the likelihood of a Spanish bank bailout faded. The S&P 500 and Nasdaq fell 1.3% and 1.7%, respectively. Somewhat paradoxically, U.S. stocks surged Tuesday despite the on-going bleakness in Europe. The Dow climbed 1.3% while the S&P 500 gained 1.2%. The markets fell Wednesday as worries about Europe and weak U.S. economic data dominated investors’ outlook. Broad market indexes were off between 0.6% and 0.9%. In a “bad news is good news” scenario, stocks lifted Thursday on the expectation that central bankers will come to the rescue as the U.S. recovery continues to sputter and Europe is awash in debt woes. The Dow gained 1.2% and the S&P 500 was up 1.1%. The Dow saw another triple-digit gain Friday as investors continue to focus on an intervention from the Federal Reserve and European Central Bank to stabilize markets. The Dow, S&P 500, and Nasdaq gained 0.9%, 1.0%, and 1.3%, respectively.

[table id=67 /]

Markets closed in mixed fashion on Monday following a surprise decline in U.S. factory orders. The Dow was down 0.1% while the S&P 500 was flat and the Nasdaq was up 0.5%. However, Tuesday the Dow broke a 4-day losing streak buoyed by unexpectedly strong service-sector data. The U.S. nonmanfacturing sector’s expansion accelerated in May contrary to expectations. The Dow, S&P 500 and Nasdaq rose 0.2%, 0.6%, and 0.7%, respectively. Come mid-week, stocks surged to their biggest daily gains seen this year as investors took solace Wednesday that central banks could cope with the economic troubles in Europe and the U.S. The Dow jumped 2.4%, its largest rise since mid-December and the S&P 500 saw a similar gain. Stocks close modestly up on Thursday on the news that China is cutting its interest rate to spur its slowing economy. The momentum carried into Friday as stocks rallied on the rumor of a potential Spanish bank bailouts. The Dow gained 0.7% and saw its biggest weekly gain since December. The S&P 500 rose 0.8%.

[table id=66 /]

The markets opened up the Memorial Day-shortened week on Tuesday with a solid gain after a Greek poll showed that the political party in favor of a bailout of Greece is leading the no-bailout party. On Wednesday, these gains were erased and then some on further Euro zone concerns, this time involving both Spain and Greece. Prices across the broad markets ebbed down 0.2% to 0.4% on Thursday closing out a tough month. The S&P 500, Nasdaq, and Dow fell 6.3%, 7.2%, and 6.2%, respectively, in May. A grim jobs report sank stocks Friday with the Dow seeing its worst day of the year. There was additional downward pressure from Europe’s debt troubles and China’s economic slowing.

[table id=65 /]

After a two-week beatdown, stocks staged a comeback on Monday, with the NASDAQ leading the way with a 2.5% gain. On Tuesday, early gains were erased by the end of the day, as concern over Greece’s exit from the European Union erased the possibility of back-to-back wins by the major indexes. Wednesday was the mirror image of Tuesday, with stocks staging an impressive late-day rally to finish near the unchanged mark. The Dow and S&P 500 managed a small gain on Thursday after the Italian premier stated he believed Greece would remain within the European Union. Stocks finished the week on Friday with little fanfare, as investors were unwilling to make any big moves before the long Memorial Day weekend.

[table id=64 /]

Last week’s slide continued on Monday with a 1% loss on concern that Greece may disconnect itself from the Euro currency. On Tuesday the Dow fell to a 4-month low, once again on worries about Greece. It was much of the same on Wednesday, although the Dow managed to keep its losses small. The losses continued on Thursday, as the small-cap Russell 2000 index has dropped 10% since its recent high in March. Stocks finished off the week on Friday with yet another loss. Even Facebook’s IPO could not energize the markets, as the Dow finished with a loss in 12 of the last 13 trading sessions, including every day this week.

[table id=63 /]

Major political upheaval in France and Greece over the weekend failed to have much of an impact on the markets on Monday, as initial trepidation in the morning faded, and the major indexes finished near the unchanged mark. On Tuesday, the Dow lost ground for the fifth straight session on concerns over the fallout from the recent Greek elections. The slide continued on Wednesday, with Spanish stocks falling to to their lowest levels since 2003 as Eurozone unrest continues. On Thursday the Dow finally managed a gain after six consecutive losses, although the gain was quite modest, following a mildly encouraging US labor report. Stocks finished the week on Friday down once again after J.P. Morgan announced a $2 billion loss that temporarily roiled banking stocks.

[table id=61 /]

On Monday, stocks finished off the month with a loss following news that Spain’s economy shrunk again for a second consecutive quarter. Still, the Dow managed to end the month with its seventh consecutive monthly gain. May started on an up note on Tuesday, with the Dow once again hitting a four-year high on good manufacturing news. On Wednesday the major indexes finished mixed, as a report indicating that private-sector job growth seems to be slowing dampened buyers’ enthusiasm. On Thursday, stocks fell once again in anticipation of Friday’s US employment report. The selling accelerated on Friday, as the employment report failed to meet expectations. While the unemployment rate slipped down to 8.1%, this decline was mainly due to workers leaving the work force rather than an increase in the number of new jobs.

[table id=60 /]