ISM Non-Manufacturing Index dropped to a three-year low

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ISM Non-Manufacturing Index dropped to a three-year low
mohamed_hassan / Pixabay

The King Report October 4, 2019 Issue 6016

ESZs did their usual overnight (US time) rally.  Once again, they declined during late Asian trading; rallied into the European open but tumbled after the first 90 minutes of European trading. Naturally, the pre-NYSE rally appeared – and traders bought the NYSE open.

ESZs and stocks tumbled at 10:00 ET because the ISM Non-Manufacturing Index dropped to a three-year low of 52.6 for September.  The index was a healthy 56.4 in August.  55 for September was consensus. Employment fell to 50.4 from 53.1.

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