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It has been the best week for the stocks during the whole year.



Following the post-Brexit rebound, some indexes and commodities showed their best results of the year.



05.Jul.16 2:14 AM
By Anastasia Sutulova
Photo INNOV.RU

   206

It has been the best week for the stocks during the whole year.

No one expected manufacturing to expand that much in June. The Institute of Supply Management's manufacturing index rose to 53.2 during the month. It has not crossed this level since February 2015. According to the statistics, the economists had forecast a reading of 51.3. Now, they start being surer that the manufacturing slowdown is over.

Auto sales rose, but fail to reach the expected annual rate of 17.30 million. However, if we take I look at the main players’ statistics, the picture will not be so rosy. Among the so-called 'big three' automakers only Ford managed to beat sales expectations in June. GM reported a 1.6% drop (0,9% higher than expected), while sales of Volkswagen went 22% down.

The rise of the US oil rig count was the biggest in six months this week. It totally rose by 11 and stopped at 341, the biggest increase since December 2015. The explanation is simple: rising oil prices encouraged some producers to ramp up production and open new oil rigs. Nevertheless, the gas rig count fell this week by 1 to 89. 




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