Indexes gapped up mildley, saw some morning buying, but then faded the rest of the day. The S&P 500 gained 0.12% while the NASDAQ fell 0.35%. Unlike Tuesday’s dour manufacturing ISM report, the non manufacturing release today was quite good. The August ISM non-manufacturing index came in at 59.0, above expectations and a touch below the nearly 10-year high of July’s 60.3 read. Any reading over 50 signals expansion. Tomorrow morning we have the monthly employment data which generally moves the market one way or the other quite strongly.Continue reading
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