Monday's Market: Blue-Chips Manufacture a Rally on NAPM Data
(Updated from 4:21 p.m. EDT)
As if on cue, the second half of the year kicked off with nascent signs of an economic recovery in the form of stronger-than-expected data on the manufacturing sector.
The National Association of Purchasing Management's purchasing managers' index 
for June showed that the manufacturing sector was contracting less severely than had been expected. Manufacturing has been one of the hardest-hit areas of the economy this year.
The news brought relief to blue-chip stocks, even 3M (MMM Quote), which warned today that its second-quarter earnings would be hurt by weakness in the economy. The Dow Jones Industrial Average closed near its highest levels of the day, up 91.32 points, or 0.9%, to 10,593.72. (After the market closed, DuPont (DD Quote) became the second Dow component to issue an earnings warning today. The company said it expects per-share earnings of 35 cents to 45 cents; analysts expected per-share earnings of 53 cents.) ...
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