ISM = 51.5

The stock market is doing well today, especially financial stocks. JPMorgan Chase ($JPM) is up over 2% and Hudson City ($HCBK) finally broke $8 per share.

Today’s ISM reported rose to 51.5 which is the highest reading since May. The number for August was 49.6. Any number above 50 means the manufacturing is growing, and below 50 means contraction. Generally, recessions line up with ISM numbers below 45.

Traders are waiting to hear remarks from Ben Bernanke later today.

Posted by on October 1st, 2012 at 12:12 pm


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.