Daily Data Flow: Stocks Rise on Data for Strong Manufacturing Growth; Dollar Drops Against Euro, Yen Falls; Millenials and Student Loan Debt

Daily Data Flow

Stocks Rise on Data for Strong Manufacturing Growth (Bloomberg)

Stocks climbed today, sending the S&P 500 to rebounding from its first monthly loss since last October, as reports indicated improvement in Japan’s manufacturing bolstered confidence in the global economy. “We’re in a period where good news is likely to be received well by the market,” John Roscoe, a senior portfolio manager at Roosevelt Investment Group Inc. in New York, said. “The stock market has already mostly digested the fact that rates are going to be higher. If we get confirmatory data, all else equal, it should imply better things for companies.”

Dollar Drops Against Euro; Yen Falls (Reuters)

The dollar fell against most currencies today, while the yen slid to its lowest level in nearly four weeks versus the greenback. Better-than-expected manufacturing data from Europe and Japan sparked investors to seek offsets with higher returns. “The (U.S.) data is not that strong that it changes the Fed equation meaningfully, other than it fits with the U.S. manufacturing sector stabilizing after a soft patch, and works with the idea of reduced downside risks,” said Alan Ruskin, head of G10 FX strategy at Deutsche Bank in New York.

Millenials’ Ball and Chain: Student Loan Debt (CNBC)

Millennials seem to be trapped in a Sisyphus-like effect when it comes to their debt. They desire to climb the work ladder to reach self independence, yet they are saddled with tens of thousands of dollars of student-loan debt. What’s fueling this vicious cycle? Rising tuition costs and a weak job market — and on top of that, federal student loan borrowers may see their interest rates double unless lawmakers strike a deal to extend a 2007 law that cuts rates, which expires today. “You could have generations that never get in the economic mainstream,” says Ted Beck, president and CEO of the National Endowment for Financial Education. “If you never get into the whole U.S. economic system because you’ve been held back by too much early debt … we could have a lot of people who just never really come anywhere near their potential.”

Exclusive  More Proof of Gold’s Brilliant Shine

Like This Article?
Now Get Mark's FREE Special Report:
3 Dividend Plays with Sky-High Returns

This newly-released report by a top-20 living economist details three investments that are your best bets for income and appreciation for the rest of the year and beyond.

Get Access to the Report, 100% FREE


img
previous article

With the close of Friday’s trading, we ended the second quarter. During the past 13 weeks, all of the major market indices rose with the Dow Jones Industrial and the S&P 500 up 2.3-2.4% for the quarter, while the Nasdaq Composite climbed more than 4.5%.

PREMIUM SERVICES FOR INVESTORS

Dr. Mark Skousen

Named one of the "Top 20 Living Economists," Dr. Skousen is a professional economist, investment expert, university professor, and author of more than 25 books.

Product Details

LEARN MORE HERE

Bryan Perry

A former Wall Street financial advisor with three decades' experience, Bryan Perry focuses his efforts on high-yield income investing and quick-hitting options plays.

Product Details

LEARN MORE HERE

Jim Woods

Jim Woods has over 20 years of experience in the markets from working as a stockbroker,
financial journalist, and money manager. As well as a book author and regular contributor to
numerous investment websites, Jim is the editor of:

Product Details

LEARN MORE HERE

Bob Carlson

Bob Carlson provides independent, objective research covering all the financial issues of retirement and retirement planning. In addition, Bob serves as Chairman of the Board of Trustees of the Fairfax County (VA) Employees’ Retirement System, which has over $2.8 billion in assets.

Product Details

LEARN MORE HERE

Mike Turner

Mike Turner’s financial, mathematical, computer science and engineering background serves as the foundation for his disciplined, rules-based approach to trading. Mike’s three services include:

Product Details

LEARN MORE HERE

Hilary Kramer

Hilary Kramer is an investment analyst and portfolio manager with 30 years of experience on Wall Street. Since 2010, Hilary's financial publications have provided stock analysis and investment advice to her subscribers:

Product Details

LEARN MORE HERE

DividendInvestor.com

Used by financial advisors and individual investors all over the world, DividendInvestor.com is the premier provider and one-stop shop for dividend information and research.

Product Details

Popular tools include our proprietary Dividend Calendar, Dividend Calculator, Dividend Score Card, and many more.

LEARN MORE HERE