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The manufacturing sector has shown some of the most consistent growth during the recovery. Regional reports are due out from the New York and Philadelphia Federal Reserve Banks, while a national report on industrial production Wednesday is expected to show 0.7 percent growth in May, according to economists polled by Thomson Reuters. Housing starts likely dipped in May, the first month after a tax credit for home buyers expired in April. A pullback in the housing market is expected following the expiration of the tax credit. Thursday's weekly report on jobless claims is expected to show another modest dip. Still claims remain above levels that would indicate private employers are consistently hiring new workers. High unemployment remains a major obstacle to a strong recovery in the U.S. Bond prices fell Monday as investors moved into riskier assets like stocks and oil. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.29 percent from 3.24 percent late Friday. Benchmark crude rose $1.47 to $76.81 in premarket electronic trading on the New York Mercantile Exchange. Overseas, Britain's FTSE 100 rose 0.6 percent, Germany's DAX index gained 1.1 percent, and France's CAC-40 jumped 1.5 percent. Japan's Nikkei stock average rose 1.8 percent.
[Associated
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