Business

Snapshot: US gains don’t offset turmoil in Egypt

Advertisement

Stocks rose most of the day on positive news about car sales, home prices, and manufacturing. But major indexes turned lower in the afternoon on news that Egypt’s military has contingency plans to suspend the country’s constitution, dissolve its legislature, and set up an interim government. Millions of protesters are demanding the president’s ouster. Oil climbed close to $100 a barrel on concern the crisis could disrupt the flow of crude from the Middle East. Trading was lighter than normal ahead of the July 4 holiday. The market closes at 1 p.m. Wednesday and reopens Friday, when investors turn their focus to the US jobs report.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.