ISM Manufacturing Data and Construction Better Than Expected

April 2nd, 2012
in Gary's blogging, Special Post

USD ISM Manufacturing (MAR) data climbs to 53.4 vs. 53.0 expected. Prior was 52.4 and Construction Spending (MoM) (FEB) contracts 1.1% vs. 0.7% gain expected. Prior revised downwards to -0.8% from -0.1%. while ISM Prices Paid (MAR) falls to 61.0 vs. 63.0 expected. Prior was 61.5. I don't see this reporting to break any trends or change risk.

Mr. Market has decided that the reports are good enough for the time being as the market have had a mixed reaction melting positively up. The DOW has remained in a tight zone for the last 3 weeks of 260 points while the 500 has done the same in a 32 point range. The longer the sideways movement usually ends in a exaggerated breakout. The question of course is which way.

Follow up:

The DOW closing on Friday at 13212 now at 13220, the 500 closed Friday at 1408 and is now at 1413., The Russell 2000 closed Friday at 830 and is now at 834.60 reacting positively to the news.

Gold is at 1474, GLD is at 163, SLV is at 31.93, SSO is at 58.66, SPY is at 141.14.

WTI oil opened this morning at 103.59 and steadily has moved to 102.74. Brent made a similar move from the high 122's and is currently at 122.30.

Volume has been anemically low and and mostly red and, again, we can't expect anything useful in market movements until this anomaly picks up. The Financial reporting did give the volume a green spike up but is still considered low and has now dropped off to the 'normal' lows.

European markets are currently mixed. Shares in France are off as the CAC 40 drops 0.25%. The DAX is down 0.11% while the Footsie (FTSE) 100 in London is up slightly at 40%.

Written by Gary

 















Make a Comment

Econintersect wants your comments, data and opinion on the articles posted. You can also comment using Facebook directly using he comment block below.












 navigate econintersect.com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2017 Econintersect LLC - all rights reserved