FYI: Talk about a disappointing start to the quarter. In the first economic report of the new quarter, ISM Manufacturing came in weaker than expected falling from 49.1 down to 47.8 compared to expectations for a reading of 50.0. While a miss of fewer than 1.5 points versus consensus expectations isn't huge, investors treated it that way as the Dow has reversed more than 400 points from its earlier highs. What really spooked investors was the fact that the headline reading dropped to its lowest level since June 2009.
Regards,
Ted
https://www.bespokepremium.com/interactive/posts/think-big-blog/ism-back-to-2009-levels
