LIVE MARKETS-Wall Street indexes rise on the day, eye weekly gain

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WALL STREET INDEXES RISE ON THE DAY, EYE WEEKLY GAIN

Wall Street’s three major indexes were gaining slightly on Friday after closing on Thursday for the Juneteenth holiday. One Federal Reserve official spoke in favor of a July rate cut while manufacturing data was weak.

Federal Reserve governor Chris Waller said on Friday the central bank should consider cutting interest rates at its next meeting given recent tame inflation data and the fact that any price shock from import tariffs will be short-lived.

One the data front, the Federal Reserve Bank of Philadelphia's monthly manufacturing index in the U.S. Mid-Atlantic region contracted for a third straight month in June, and factory employment fell by the most since the early months of the COVID-19 pandemic five years ago, in a sign that President Donald Trump's tariffs are starting to weigh on output.

Among the S&P 500's 11 major industry sectors energy was the biggest gainer while healthcare was the sole loser. For the week the S&P and the Dow industrial average .DJI were tracking for gains of about 0.3% while Nasdaq .IXIC was eyeing a nearly 1% advance.

Here is your morning snapshot from 10:07 a.m ET/ 1407 GMT:

(Sinéad Carew)

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