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September 01, 2011 at 04:00 AM EDT
Although the economy remains extremely weak, some investors have pointed to recent data as a reason to at least not be overly pessimistic on the short term future. One item that investors hung their hats on in yesterday’s session was the Chicago PMI report which beat analyst expectations. Although the key report fell, it only declined by 2.3 points, beating expectations which called for a drop to 54.0 from last month’s reading of 58.8. This sent stocks higher in the early part of Wednesday’s trading session but definitely put the pressure on today’s release of the national ISM manufacturing survey to either confirm or deny the recent trend in the space. Despite the beat on the Chicago PMI, analysts are still looking for the ISM manufacturing survey to slip to 48.5, down from 50.9 last month. If this comes to pass, it will mean that the U.S. manufacturing sector is in a state of [...] Click here to read the original article on ETFdb.com. Related Posts: Friday’s ETF To Watch: U.S. Industrials ETF (IYJ)
Although the economy remains extremely weak, some investors have pointed to recent data as a reason to at least not be overly pessimistic on the short term future. One item that investors hung their hats on in yesterday’s session was the Chicago PMI report which beat analyst expectations. Although the key report fell, it only declined by 2.3 points, beating expectations which called for a drop to 54.0 from last month’s reading of 58.8. This sent stocks higher in the early part of Wednesday’s trading session but definitely put the pressure on today’s release of the national ISM manufacturing survey to either confirm or deny the recent trend in the space. Despite the beat on the Chicago PMI, analysts are still looking for the ISM manufacturing survey to slip to 48.5, down from 50.9 last month. If this comes to pass, it will mean that the U.S. manufacturing sector is in a state of [...]
