US Stocks finished slightly lower yesterday, but finished the 2nd quarter higher. June was the 5th straight monthly gain and the 2nd quarters gain was the 6th straight quarterly gain. The S&P 500 recorded a 6.1% gain in the first half of 2014.
Even though General Motors recalled another 8 million cars yesterday bringing their total this year to 29 million their June sales were 1% higher. GM sold 267,000 vehicles in June. Shares of GM are 2% higher on that news.(marketwatch)
Pending home sales jumped 6% in May to reach the highest level in eight months signaling that upcoming closings of existing homes will speed up.(yahoo finance)
Two separate reports out this morning showing manufacturing in China is rebounding with economists crediting government stimulus measures as reason for the rebound. China's manufacturing sector is now growing again showing its strongest expansion in 15 months after contracting in May.(markwatch)
Paying for college just got more expensive. Every July 1st the interest rate on federal student loans resets. So even though the federal loans have rates that are set for the life of the loan, students taking new loans will be paying higher rates. The Stafford loan is set to rise today from 4% to 4.66%. Student loan debt is now greater than credit card debt in this country, second only to mortgage debt.(Yahoo Finance)