The Philly Fed Index reported a sharp increase for Sept of 14.3 above the consensus of 8. Making this the best report since June 2007 and the first 2 month increase since October last year showing that manufacturing has completely turned the corner. The interesting notes were that inventories and hours worked continued to decline showing that even with the corner turned, pent up demand is going to be huge. Profits as well will be strong with more shipments from fewer employees.
All of this news seems bullish for the market though not somewhat bearish for employees.