May ISM Drops to 53.2

The S&P 500 is down a bit this morning from Friday’s all-time high close. The big news today was the May ISM report which came in a bit light. Wall Street had been expecting 55.5, and today’s reading was 53.2. That’s nothing to be worried about.

I like following the monthly as it’s one of the better monthly reports. For the most part, the economy doesn’t start hitting a trouble spot until the ISM falls to around 45. The ISM has now been 49.0 or better for 59 straight months.

There’s not much news from our Buy List, although Express Scripts is weak after being downgraded by Cowen.

Posted by on June 2nd, 2014 at 10:18 am


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.