Today's Market Update - New York Session

02 November 2009 @ 06:36 pm EDT

The NY session saw recent inter-market correlations continue to play out. Equities ended the day 0.7% higher after some rollercoaster price action. Risk assets started NY trading substantially higher and were catapulted by a much stronger than expected US ISM manufacturing report. The headline jumped to 55.7 from 52.6 and the details were also strong. Indeed, the employment component printed above 50 for the first time since July of last year.

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