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First Full Week of July Ends on A High Note as Dow Continues Gains

The Dow Jones Industrial Average remained up today closing at 10,197.72 points, an increase of 58.73 points from Thursday. Between the early announcement of State Street Corporation’s positive earnings per share, the Institute for Supply Management’s report showing growth in June of non-manufacturing economic activity, and the International Monetary Fund’s (NYSE:IMF) report on Thursday showing that financial recovery during the first part of 2010 had exceeded expectations investors had a lot of good news to work with this week and as a result they kept the Dow up consistently. In all, the Dow gained a total of 511.24 points this first full week of July. It is interesting to note that this was also a shortened trading week due to the 4th of July holiday.

And the good news didn’t stop with the Dow. The S&P 500 closed up 7.68 points to close at 1,077.93 and the Nasdaq closed at 2,196.45 up 21.05 points. European and Asian markets were also unanimous today as all six markets closed up. Talk of European bank tests do not seem to be dampening investor’s spirits, and it will be interesting to see if the strength test results do.