Midnight Trader | Jun 30, 2014 04:28PM ET
Stocks finished Monday trading mixed but the performance mattered little as a strong Q2 came to a close. Tech stocks posted moderate gains as a group, lifting the NASDAQ Composite Index to a small advance on the day. While the rest of the market was soggy. Commodity-related stocks also rose Monday, with shares of healthcare and industrial companies each taking hits. Still, the broad S&P 500 recorded its 5th straight month for gains and its biggest Q2 advance since 2009. The DJIA ends June up 3.9% and the quarter up 4.7%.
Investor response to economic data Monday was muted despite strong housing sales activity during May, with signed contracts for previously owned homes rising 6.1% over the prior month and crushing market expectations looking for a 1.0% rise. It was the largest increase since April 2010 when home sales popped ahead of a first-time buyer tax credit expiring.
Also on Monday, the Chicago purchasing managers index fell to a 62.6 reading this month from May's 65.5 reading, missing estimates for a smaller decline to 64.0. But the Dallas Fed reported an improvement in business activity and production in Texas and surrounding states during June, with indices for both categories increasing to 11.4 and 15.5, respectively.
Commodities were mixed, with metals largely rising while hydrocarbons settling little changed. August Gold climbed $2.30 to $1,322.30 per ounce while July Silver fell 11 cents to finish at $21.03 per ounce. July Copper added 3 cents to $3.20 per pound. Crude Oil for August delivery settled 4 cents lower at $105.37 per barrel while August Natural Gas rose 5 cents to finish at $4.46 per 1 million BTU.
h2 Here's Where The U.S. Markets Stood At Day's End/h2GLOBAL SENTIMENT
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