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US Midday: Wall Street down on weak manufacturing data

Date: Monday 02 Jul 2012

US Midday: Wall Street down on weak manufacturing data

- Stocks down after June rally
- Manufacturing data disappoints

Dow: -0.53%
S&P: -0.29%
NASDAQ: -0.18%

US stocks failed to follow European equities up on Monday as investors adjusted positions following the 6% rally on the S&P 500 in June.

The US Institute for Supply Management’s factory index fell to 49.7 in June, from 53.5 in May . Expectations had been for a reading of 52.

In China, the government’s purchasing manager’s index dropped to 50.2 in June from 50.4 in May, this was better than the consensus expectation of 49.9.

In Japan, the closely watched Tankan index, which measures sentiment in the manufacturing sector, came in at minus 1, meaning there were more pessimistic responses than optimistic ones. But the market had been expecting a worse negative reading.

COMPANIES

Semiconductor maker Micron Technology rose after announcing it would buy bust Japanese firm Elpida Memory. The deal will increase Micron’s chip making capacity.

Amylin Pharmaceuticals also rose strongly after it emerged the group is a firm takeover target for Bristol-Myers Squibb.

BS

S&P 500 - Risers
MEMC Electronic Materials (WFR) $2.64 +21.66%
Best Buy Co. Inc. (BBY) $23.06 +10.00%
Micron Technology Inc. (MU) $6.59 +4.36%
Sprint Nxtel Corp. (S) $3.40 +4.29%
Constellation Brands Inc. Class A (STZ) $28.06 +3.70%
AutoNation Inc. (AN) $36.58 +3.68%
Equifax Inc. (EFX) $47.85 +2.69%
Family Dollar Stores Inc. (FDO) $68.26 +2.68%
Mylan Inc. (MYL) $21.84 +2.22%
Expedia Inc. (EXPE) $49.13 +2.21%

S&P 500 - Fallers
Duke Energy Corp. (DUK) $23.18 -66.49%
Goodyear Tire & Rubber Co. (GT) $11.37 -3.73%
Fastenal Co. (FAST) $38.85 -3.62%
Unitedhealth Group Inc. (UNH) $56.54 -3.35%
AK Steel Holding Corp. (AKS) $5.68 -3.24%
Life Technologies Corp. (LIFE) $43.58 -3.15%
Johnson Controls Inc. (JCI) $26.87 -3.03%
Lincoln National Corp. (LNC) $21.22 -2.97%
NetApp Inc. (NTAP) $30.90 -2.89%
Avon Products Inc. (AVP) $15.75 -2.84%

Dow Jones I.A - Risers
American Express Co. (AXP) $58.90 +1.19%
AT&T Inc. (T) $35.97 +0.86%
JP Morgan Chase & Co. (JPM) $35.96 +0.65%
Verizon Communications Inc. (VZ) $44.67 +0.52%
Coca-Cola Co. (KO) $78.59 +0.52%
Johnson & Johnson (JNJ) $67.80 +0.36%
Travelers Company Inc. (TRV) $63.93 +0.14%
Merck & Co. Inc. (MRK) $41.76 +0.01%

Dow Jones I.A - Fallers
E.I. du Pont de Nemours and Co. (DD) $49.16 -2.79%
Bank of America Corp. (BAC) $7.98 -2.44%
General Electric Co. (GE) $20.36 -2.28%
Caterpillar Inc. (CAT) $83.20 -2.01%
Alcoa Inc. (AA) $8.61 -1.59%
Boeing Co. (BA) $73.15 -1.55%
Hewlett-Packard Co. (HPQ) $19.92 -0.94%
Exxon Mobil Corp. (XOM) $84.78 -0.92%
Cisco Systems Inc. (CSCO) $17.04 -0.76%
Microsoft Corp. (MSFT) $30.37 -0.72%

Nasdaq 100 - Risers
Mylan Inc. (MYL) $21.84 +2.22%
Expedia Inc. (EXPE) $49.13 +2.21%
Research in Motion Ltd. (RIMM) $7.55 +2.10%
Intuitive Surgical Inc. (ISRG) $564.99 +2.02%
First Solar Inc. (FSLR) $15.34 +1.86%
Cintas Corp. (CTAS) $39.20 +1.53%
Illumina Inc. (ILMN) $41.00 +1.51%
Qiagen N.V. (QGEN) $16.95 +1.50%
Patterson Companies Inc. (PDCO) $34.98 +1.48%
News Corp. Class A (NWSA) $22.57 +1.26%

Nasdaq 100 - Fallers
Fastenal Co. (FAST) $38.85 -3.62%
Life Technologies Corp. (LIFE) $43.58 -3.15%
Foster Wheeler AG (FWLT) $16.76 -2.92%
NetApp Inc. (NTAP) $30.90 -2.89%
Nvidia Corp. (NVDA) $13.45 -2.68%
Check Point Software Technologies Ltd. (CHKP) $48.45 -2.30%
Baidu Inc. (BIDU) $112.35 -2.29%
PACCAR Inc. (PCAR) $38.34 -2.17%
eBay Inc. (EBAY) $41.23 -1.86%
Autodesk Inc. (ADSK) $34.45 -1.54%

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