Stat of the Day: Conflicting Data Points
As the market as seen the last couple of days, the economic reports have been very conflicting to the market. Typically improvements from last month or quarter, but below expectations. Thats typically short term bad for the market, but sometimes they provide the best buying opportunities. Below we'll review the major data points this mornings and as you'll see the numbers aren't as bad as the market reacted with the 1%+ sell off: Chicago PMI This number that mostly measures the manufacturing activity in the Chicago region came in much weaker then expected and actually weaker period. It's a confounding number because no indication exists that September was a weak month. Think Mr Ghriskey summed is up pretty well. The Institute for Supply Management-Chicago business barometer fell to 46.1 in September from 50.0 in August. Economists had forecast the index at 52.0. A reading above 50 indicates expansion in the regional economy. "Don't know why it looks so weak, wh...