January ISM = 53.5

At mid-day, the stock market is holding on to some gains. As on Friday, oil is rebounding and that’s helping energy stocks. The Energy Sector ETF (XLF) is doing well again today. It’s had a rough few months.

This morning’s ISM report for January came in at 53.5 which is a bit on the light side. That’s down from 55.1 in December.

The Census Bureau said that construction spending rose by 0.4% in December. We also learned that personal income rose by 0.3% in December while personal spending fell by the same amount. For all of 2014, personal spending rose by 2.4%. That’s the strongest growth since 2006. The PCE price index rose 0.7% over the last 12 months.

Posted by on February 2nd, 2015 at 12:23 pm


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