New orders for manufactured durable goods in May decreased $2.5 billion or 1.1% to $228.2 billion, the U.S. Census Bureau announced. This decrease, down two consecutive months, followed a 0.9% April decrease. Excluding transportation, new orders increased 0.1%. Excluding defense, new orders decreased 0.6%. Transportation equipment, also down two consecutive months, drove the decrease, $2.7 billion or 3.4% to $75.4 billion.

In the week ending July 1, the advance figure for seasonally adjusted initial claims for unemployment insurance was 248,000, an increase of 4,000 from the previous week’s unrevised level of 244,000, the Labor Department reported. The four-week moving average was 243,000, an increase of 750 from the previous week’s unrevised average of 242,250.

The average interest rate for a 30-year fixed-rate mortgage is 3.96%, up from 3.88% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 3.22%, up from 3.17%.

Thursday, the Dow was down 158.13 points (0.74%) at 21,320.04, the NASDAQ lost 61.39 points (1.00%) to finish at 6,089.46, and the S&P 500 decreased 22.79 points (0.94%) to 2,409.75. The Russell 2000 fell 19.33 points (1.36%) to 1,400.81, and the Wilshire 5000 closed 245.59 points (0.97%) lower at 25,059.75.

The price of the 10-year Treasury note decreased 12/32, bringing its yield up to 2.364%. The price of the 30-year Treasury bond fell 1 2/32, increasing its yield to 2.901%.

ON THIS DATE: In 1846, U.S. annexation of California was proclaimed at Monterey after the surrender of a Mexican garrison. In 1930, construction began on Boulder Dam, later Hoover Dam, on the Colorado River. In 1950, the U.N. Security Council authorized military aid for South Korea. In 1981, U.S. President Ronald Reagan announced he was nominating Arizona Judge Sandra Day O’Connor to become the first female justice on the U.S. Supreme Court. In 1994, Amazon.com, Inc. was founded in Seattle, Washington under the name “Cadabra.”

In Yunnan Province, China, a tourist was trying on a jade bracelet when a salesperson told her about the bracelet’s $44,000 price tag, according to People’s Daily. When she tried to take the bracelet off, it slipped off her wrist to the floor, where it broke into two pieces. Shoppers and staff attempted to calm the woman, but she started sweating, turned pale and fainted over the jewelry display, according to the report. Jewelry store staff told the woman they would lower the price of the bracelet to $25,000 to resolve the matter, but the woman said she could only afford to pay $1,500. Police were unable to get the two parties to reach an agreement.

In Boston, Massachusetts, a man was driving on Lake Road early in the morning, Fox 25 Boston reports. His GPS advised him to continue heading straight, which wound up plunging his car into Swan Pond. By the time emergency responders arrived, the car was completely underwater. The man and the other rider in the car were fine, though police cited the man for “operating a motor vehicle with a revoked license.”

In Little River, South Carolina, the Sun News reports that a man walked inside a convenience store and demanded money while holding a knife. A police report says the “unfazed” clerk didn’t give the man money and told him to leave. The man realized his efforts were going nowhere and apologized, put the knife back in his pocket and left.

Have a great weekend, everyone!