Industrials Up After ISM Data -- Industrials Roundup

Features Dow Jones Newswires

Shares of mining companies and other commodities producers rose amid strong manufacturing data in the U.S. and Europe.

Continue Reading Below

Signs that the global economy is maintaining or even picking up growth are causing traders to rotate back into economically cyclical areas. Gold futures fell to their lowest close since May 10, as traders bailed out of haven investments and rotated back into some of the riskier, beaten-down corners of the market, such as financial and energy stocks.

(-By Rob Curran, rob.curran@dowjones.com)

Shares of manufacturing and transportation companies rose after a strong factory survey. The Institute for Supply Management on Monday said its index of U.S. manufacturing activity rose to 57.8 in June, its highest level since August 2014.

Similarly, eurozone factories had their busiest month in more than six years during June, with the expansion even spreading to beleagured Greece.

"Although the pace of job creation may have moderated slightly, incoming data suggest a healthy gain in nonfarm payroll employment in June," said analysts at brokerage Nomura Securities, in a research note. "We expect continued, modest growth with balanced risks."

Continue Reading Below

Federal investigators believe Caterpillar failed to submit numerous required export filings with the government in recent years as a probe into its tax reporting continues, The Wall Street Journal reported, citing people familiar with the matter.

(-By Rob Curran, rob.curran@dowjones.com)

(END) Dow Jones Newswires

July 03, 2017 16:28 ET (20:28 GMT)