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The Honolulu Advertiser
Posted on: Thursday, July 2, 2009

Wall Street rises moderately ahead of today's jobless report


Associated Press

NEW YORK — Investors kicked off the stock market's third quarter with a moderate gain after getting some reassuring data on manufacturing and housing.

The Dow Jones industrial average rose by 0.7 percent yesterday, rebounding from the previous day's selloff that was triggered by a drop in consumer confidence. Other indexes made moderate advances as well.

The buying was tempered by caution ahead of today's June jobs report.

"That's going to be the big one," said Chris Johnson, president of Johnson Research Group. "People are keeping their eye on the unemployment figure."