U.S. Stocks Advance After Manufacturing Growth Accelerates; Costco Surges

(Bloomberg) -- Faster-than-expected growth in
manufacturing ignited the U.S. stock market on July's first
trading day, extending the best second-quarter advance for the
Standard & Poor's 500 Index since 2003.

Costco Wholesale Corp. climbed to a record after Goldman,
Sachs & Co. advised buying the shares, helping push the Nasdaq
Composite Index to a six-year high. Caterpillar Inc., United
Technologies Corp. and Honeywell International Inc. carried the
Dow Jones Industrial Average to its first gain in three days.


Read more at Bloomberg Stocks News

Dow Average Falls for 1st Time in 6 Days as Citigroup Declines

The Dow Jones Industrial Average fell for the first time in six days, led by financial and industrial companies, after an unexpected decline in new-home sales heightened concern that economic growth will slow.

Citigroup Inc. pulled banks lower, while Honeywell International Inc. paced losses among industrial shares on concern the deteriorating housing market will reduce demand for loans and construction equipment. A jump in oil prices spurred gains in energy shares, lifting the Standard & Poor's 500 Index to its fifth advance in six days. Dell Inc. helped boost the Nasdaq Composite Index.

The fewest new home sales in seven years dimmed prospects for a quick rebound in real estate. The Commerce Department's report curtailed a rally that lifted stocks to their biggest weekly advance in four years.

Read more at Bloomberg.com