Best ISM in Two Years

It’s November and Election Day is tomorrow. Of course, people have already been voting and it looks like turnout will be heavy.

The stock market ended last week on a down note, and the indexes have been soggy ever since the recent high on October 12.

At one point, it looked like the S&P 500 was going to close below the lows from late September, but a late-day rally on Friday helped us avoid that. Twitter, by the way, was down 21% on Friday.

The stock market is having a good morning today. This morning’s ISM Manufacturing report was 59.3. That’s pretty good. It was the highest number in over two years. The S&P 500 is up about 1.5%.

This will be a busy week. Of course, there’s the election. There are also tons more earnings, plus a jobs report plus a Fed meeting.

Posted by on November 2nd, 2020 at 10:04 am


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