US equity markets, which are down again on global concerns, now have some negative economics news to digest as well

Jay Soloff

Argonath Financial

US equity markets, which are down again on global concerns, now have some negative economics news to digest as well. The ISM Manufacturing Survey came in weaker than expected. Economists predicted the index would drop to 58.5 from last month's 59 reading. Instead, the number dropped all the way to 56.6. 8 out of the 10 components in the index registered drops as well, with New Orders showing the biggest decline. The unexpected pullback in the ISM is most likely due to the heightening global unrest in recent weeks. Manufacturing Industries believe this unrest could also hurt future growth, although 15 of 18 industries reported growth in September. On the bright side, September PMI is still higher than every month this year besides the last two. Plus, the annual trend remains healthy. We'll see how the ISM Services Index looks later this week. (VIEW LINK)


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Argonath Financial

I'm an investments analyst for a US-based independent investment research firm. My focus is on economics, options, and all types of stocks, but especially tech, Internet, and renewable energy companies. I have experience as a options market...

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