Market News The U.S. stock market finished the second quarter - TopicsExpress

Market News The U.S. stock market finished the second quarter on a subdued note with the major averages ending near their flat lines. The Nasdaq Composite (+0.2%) outperformed throughout the session, while the S&P 500 (-0.04%) surrendered its slim gain into the close. For the quarter, the S&P 500 jumped 4.7%, while the Nasdaq advanced 5.0%. The technology sector fueled the outperformance of the Nasdaq Composite with chipmakers ending on their highs. The top-weighted tech component—Apple (AAPL 92.93, +0.95)— did some grunt work, rallying 1.0%. Today, the ISM Index for June (consensus 55.8) and May Construction Spending (consensus 0.4%) will be reported at 15:00 GMT, while auto and truck makers will be reporting their June sales throughout the day. S&P 500 +6.1% Nasdaq Composite +5.5% Dow Jones Industrial Average +1.5% Asian stocks rose, with the regional index headed for a six-year high, driven by a rally in Japanese stocks as investors weighed a survey of business sentiment. Nikkei 225 rose 1.3% after the Bank of Japan released its quarterly tankan business survey result. The dollar pulled back from recent lows against the euro and the yen on Tuesday, but the greenback’s gains were held in check amid persistent concerns over the outlook for the U.S. recovery. EUR/USD edged down 0.07% to 1.3682. The dollar edged higher against the yen, with USD/JPY rising 0.12% to 101.44, not far from Monday’s six-week low of 101.22. The shared currency was steady against the yen, with EUR/JPY at 138.79. Gold prices rose in Asia on Tuesday after solid manufacturing data in the country set the tone for demand by a top importer of the yellow metal. Gold futures for August delivery traded at $1,328.60 a troy ounce, up 0.50%. Silver for September delivery was up 0.32% at $21.123 a troy ounce. Copper futures for September delivery were up 0.05% at $3.207 a pound. Crude oil prices gained in Asia on Tuesday after strong PMI data from China set the tone on demand prospects. Crude oil for delivery in August traded at $105.60 a barrel, up 0.21% Oil prices continued their downward trend amid indications Iraqi oil exports from the southern part of the country remained insulated from the sectarian violence that has swept the north in recent weeks. Futures rallied to nine-month highs earlier in the month amid fears that the insurgency would spread to the oil-rich south and disrupt the nations oil production.