With the 4th of July shortened trading week, markets were searching for direction as participants returned to their desks. Q2 returns were solid for the US indexes, but each new economic datapoint that shows some weakness, adds to the debate of how much higher equities can go in the short term. ISM manufacturing data on Monday was weaker than expected, and that was followed by factory orders that fell sequentially today. Alone these are not enough to cause concern for investors to take profits,…
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