Employment Gains Appear to Be Slowing

The market is up again today. This could be the S&P 500’s fifth gain in the last six sessions. The S&P 500 is now back over its 50-day moving average.

The ISM Manufacturing Index usually comes out on the first day of each month. This morning’s report came in at 55.4. That’s pretty good although it’s a decline from the previous reading of 56.0 for August.

The initial claims report fell to 837,000. It seems that the gain in employment has either stopped or slowed down noticeably. It’s still the lowest report in six months.

The Census Bureau said that construction spending fell 1.4% in August. Also in August, personal income fell by 2.7% while spending rose by 1%.

Posted by on October 1st, 2020 at 1:25 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.