Hickey and Walters (Bespoke) submit:
After yesterday's Chicago PMI came in below 50 for the first time since September 2009, some investors breathed a sigh
Complete Story »
After yesterday's Chicago PMI came in below 50 for the first time since September 2009, some investors breathed a sigh of relief today as the ISM Manufacturing report for April came in above 50 and slightly better than expected (50.7 vs. Show More Summary
Those expecting a complete collapse in the Manufacturing ISM, on par with yesterday's slide in the Chicago PMI, will have to wait some more before the complete devastation in the US manufacturing sector sends stocks into the stratosphere. Show More Summary
By The Oxen Group: Market Recap: The market made a heroic comeback after the Chicago PMI came in at a six-year low and showed contraction, while Consumer Confidence rose to a five-year high. The market had to decide what is more important - manufacturing or confidence in consumers. Show More Summary
By Doug Short: The S&P 500 got off to a weak start Tuesday. European indexes had paused from rally mode, and shortly after the US markets opened, the Chicago PMI showed a contraction in April, the first since September 2009. The 500 hit its intraday low, off 0.45%, about 15 minutes after the PMI report. Show More Summary
Stock markets moved sideways today on a few conflicting economic reports. The Chicago PMI fell to 49 in April from 52.4 in March, which shows contraction in manufacturing. On the flip side, the Conference Board's reading of consumer confidence jumped to 68.1 in April from 61.9 in March. Show More Summary
Pick through the ruins of the April Chicago PMI, an economic gauge that polls purchasing managers, and one phrase stands out: “inflation nearly vanished”.
Earlier we reported on the weak Chicago PMI report, which fell into contraction at a 49 level, vs. the 52 level that analysts had expected. The various sub-indices of the report were really ugly as well, especially employment. Check it out. Show More Summary
The Chicago Purchasing Managers Index for the month of April came out as recessionary, or in contraction. This is yet another regional economic report confirming that weakness is ruling the roost. Overall the index fell to 49.0 in April from 52.5 in March. Show More Summary
Total collapse. That is the only way to explain what just happened with the Chicago PMI which imploded from 52.4, and printed at a contractionary 49: the first sub-50 headline print since September 2009. But that's not all: Deliveries,...Show More Summary
Heads up! Minutes away from the release of the April Chicago PMI report, due out at 9:45 AM ET.
The headline index is expected to tick up to 52.5 from last month's 52.4 reading, indicating a slight acceleration in the pace of expansion in Midwest manufacturing in April.
We will have the full release LIVE at 9:45 AM ET. Show More Summary
Earlier today from LPS: U.S. Home Prices Up 1.0 Percent for the Month; Up 7.3 Percent Year-Over-Year. LPS reported their House Price Index increased to $210,000 in February, up from $208,000 or 1.0% from January - and up from $196,000 or 7.3% from February 2012. Show More Summary
By Cullen Roche: If this morning's CFNAI reading was an indicator, then we should expect continued sluggish economic growth. At -0.23, the index is consistent with modestly expanding PMI data (see chart below) and a weak economy. This brings the three-month moving average to -0.1, which is not a terribly alarming reading nor a very positive one. Show More Summary
Spot the common thread: Chicago PMI, manufacturing ISM, ADP and now Non-manufacturing ISM. If you said all big misses, give yourself a pat on the back. Because in the New Normal, the recovery apparently goes backward and downward especially when funded by what is now some $400 billion in QEternity. Show More Summary
Typically, when the ISM-leading Chicago PMI has a horrible print as it did last week, the subsequent ISM response in a "baffle with BS" centrally planned regime is one of a stunning beat just to make sure all vacuum tubes are kept on their binary toes, and the bad news is good news, good news is better news meme continues propagating. Show More Summary
Jobless Claims rose sharply even after upward adjustments (357K vs 340K & prior 341K revised higher from 336K). The Chicago PMI fell sharply (52.4 vs 56.1 & prior 56.8), which should distress the economic growth meme. GDP report shows...Show More Summary
In what may be a stunning development, today the market may actually respond to an adverse piece of economic news by going lower. The news, in this case was the February Chicago PMI which tumbled from 56.8 to 52.4, the lowest since December and far below expectations of a 56.5 print - the biggest miss in 11 months. Show More Summary
Minutes away from the next economic data release: Chicago PMI, due out at 9:45 AM ET.
Economists expect the index to moderate slightly to 56.5 from February's 56.8 reading.
Any number over 50 indicates expansion, so a 56.5 reading would...Show More Summary
The banks open in Cyprus tomorrow with strict capital controls, from Reuters: G4S Readies Guards as Cypriot Banks Prepare to Open The Central Bank said banks would open their doors at midday (6 a.m. EST) on Thursday after nearly twoShow More Summary