LONDON -- Yesterday's sudden fall in the ISM Manufacturing Index caught New York traders by surprise, leading the Dow Jones Industrial Average
The markets close at 1 p.m. EDT today ahead of tomorrow's Independence Day holiday, and today's shortened trading session is unlikely to contain any such surprises. The main item of economic data on the morning's agenda is May's factory orders, which are expected to show an increase of 0.1% after a 0.6% fall in April. However, yesterday's shock disappointment may lead to caution before the actual figures are released at 10 a.m. EDT.
Company news is likely to be thin, with earnings season not due to start until next week. Shares that could be active in today's trading session include Ford
In Europe, markets were cautiously positive this morning. New economic data today showed that eurozone factory gate prices fell faster than expected in May, falling by 0.5% instead of 0.3%. The drop is mainly due to recent falls in the price of oil, but it may increase expectations of an interest rate cut by the European Central Bank at its monthly meeting later this week.
In Ireland, investors were cheered by news that their country will be returning to the bond markets earlier than expected, testing the waters with 500 million euros of 90-day bonds later this week. The main French, German, and Italian indexes were all up by around 0.5% in morning trading.
In London, the FTSE 100
Finally, when legendary investor Warren Buffett decided to invest in a major U.K. company recently, he was careful to ensure that the company he chose was not exposed to the volatility that characterizes the financial markets. Instead, he spent more than $1 billion expanding his holding in a big FTSE 100 brand to more than 5%. The company in question is currently out of favor with investors but has substantial global growth potential and a superb dividend record. You can find out the identity of the company and the price paid by the billionaire investor in this special free report.
Are you looking to profit from this uncertain economy? "Ten Steps To Making A Million In The Market" is The Motley Fool's latest report. We urge you to read it today -- your wealth could be transformed. Click here now to request your free, no-obligation copy. The Motley Fool is helping Britain invest. Better.
Further investment opportunities:
Roland Head owns no shares of the companies mentioned. The Motley Fool owns shares of Ford Motor. Motley Fool newsletter services have recommended buying shares of Ford Motor and General Motors Company. Motley Fool newsletter services have recommended creating a synthetic long position in Ford Motor. The Motley Fool has a disclosure policy.We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.