July 6, 2015 Weekly Market Update from Maier & Associates Financial Group

Stock markets closed the holiday week on a sour note for the second week in a row. While several domestic indicators have been favorable, such as housing and unemployment, the markets across the board continued to lose value on the heels of Greece closing its banks for a week and missing a debt payment, coupled with China cutting lending rates in an attempt to support its sagging economy, while Puerto Rico has indicated it can't pay its bills. The S&P 500, the Dow, Nasdaq, the Russell 2000, and the Global Dow all lost more than 1% compared to their respective closes last week. Year-to-date, the Dow has reached negative territory, down 0.52%.

The national average retail regular gasoline price decreased to $2.801 per gallon on June 29, 2015, $0.011 under last week's price and $0.903 below a year ago. Gold closed Friday's trading period selling at $1,167.80, down $5.40 from a week ago ($1,173.20).

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