Tuesday, February 06, 2007
Not Much Happening
Despite a flurry of merger news the markets (thankfully) failed to ignite.
They traded in a tight range all day with the SPX finishing down 1.40 points to 1,445.99. We are still in green with still a slight nervousness to our upside risk.
Not much else to say really. The ISM Non-Mfg. Index came in higher than expected at 59.0 in January. Estimates were for a reading near 57.0 compared with a reading of 56.7 in December. Even so, the new orders component and the employment component both were soft at 55.4 and 51.7 respectively. Nonetheless, any reading above 50 is expansionary, so the data was mostly positive. And thats it.
Until next time.
They traded in a tight range all day with the SPX finishing down 1.40 points to 1,445.99. We are still in green with still a slight nervousness to our upside risk.
Not much else to say really. The ISM Non-Mfg. Index came in higher than expected at 59.0 in January. Estimates were for a reading near 57.0 compared with a reading of 56.7 in December. Even so, the new orders component and the employment component both were soft at 55.4 and 51.7 respectively. Nonetheless, any reading above 50 is expansionary, so the data was mostly positive. And thats it.
Until next time.
# posted by Paul @ 5:43 AM 
