**Stock Market Analysis: Monday Trading Session Review**
Stocks displayed a lack of clear direction over Monday’s trading session, with the major averages fluctuating across the unchanged line, reflecting the downturn observed last Friday.
As of now, the Nasdaq has risen by 54.77 points, or 0.3%, to 17,787.38. In contrast, the Dow is marginally up by 10.97 points, or less than a tenth of a percent, at 39,129.83. The S&P 500 has also seen a minor increase, climbing by 0.68 points, or less than a tenth of a percent, to 5,461.16.
The lukewarm performance on Wall Street can be attributed to traders awaiting the Labor Department’s critical monthly jobs report, due on Friday. This report is anticipated to reveal a slowdown in job growth for June, potentially influencing future interest rate decisions.
Additionally, market participants seem to be awaiting remarks from Fed Chair Jerome Powell on Tuesday, along with the Independence Day holiday on Thursday, adding to the cautious sentiment.
### U.S. Economic Front
The Institute for Supply Management (ISM) released a report indicating that U.S. manufacturing activity unexpectedly contracted at a slightly faster rate in June. The ISM's manufacturing PMI declined to 48.5 in June from 48.7 in May, with a reading below 50 signifying contraction. Economists had forecasted a slight rise to 49.1.
In another development, the Commerce Department reported an unexpected slight decrease in U.S. construction spending for May. The department revealed that construction spending edged down by 0.1% to an annual rate of $2.140 trillion, following a 0.3% increase to a revised rate of $2.142 trillion in April. Expectations had been for construction spending to inch up by 0.1%, compared to the previously reported 0.1% decline for the previous month.
### Sector Highlights
Most major sectors have experienced only modest fluctuations throughout the day. However, housing stocks have notably declined, dragging the Philadelphia Housing Sector Index down by 2.2%.
Airline stocks have also shown significant weakness, with the NYSE Arca Airline Index falling by 1.7%. Other sectors, including commercial real estate, oil services, and networking, are experiencing notable downturns, while pharmaceutical stocks have moved upwards.
### Global Markets
In overseas trading, stock markets across the Asia-Pacific region mostly moved higher on Monday. Japan’s Nikkei 225 Index ticked up by 0.1%, and China’s Shanghai Composite Index advanced by 0.9%.
European markets have also shown a positive trend. The French CAC 40 Index surged by 1.4%, the German DAX Index rose by 0.5%, and the U.K.'s FTSE 100 Index increased by 0.3%.
### Bond Market
In the bond market, treasuries have moved sharply lower, causing a significant spike in yields. The yield on the benchmark ten-year note, which moves inversely to its price, has risen by 13.2 basis points to 4.475%.
