Stock Market Today: Stocks Close Higher Ahead of Powell Speech

The main indexes kicked off the second half with a win thanks to solid gains in several mega-cap stocks.

closeup of stock market chart with red, green and blue bars
(Image credit: Getty Images)

Stocks started a historically strong month on a positive note as investors looked ahead to several key events scheduled for the holiday-shortened week. As a reminder, the stock and bond markets will close early Wednesday and stay shuttered Thursday for the Fourth of July holiday.  

Even with markets closed this week for a day and a half, there's a full economic calendar for folks to sift through. Today's data included the Institute for Supply Management's Manufacturing Purchasing Managers Index (PMI), which fell to 48.5% in June from May's 48.7% reading. Readings below 50% indicate contraction and this is the 19th month out of 20 that the index has arrived below 50.

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Karee Venema
Senior Investing Editor,

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.