FYI: Just as it hasn't been a good start to the month for the market, it also hasn't been a good start for economic data. A case in point is the ISM Manufacturing report for the month of September. While economists were expecting a slight decline to 58.5 from last month's level of 59.0, the actual reading came in considerably weaker at 56.6. While September's level represented a decline from July and August, it is still above levels we were at just three months ago.
Regards,
Ted
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