Wow, I can't recall when Chicago PMI had such an effect... tomorrow is the really busy day for economic reports so I didn't think much of any economic data today. Quite a stark reversal in the indexes... from our normal trash the dollar, ho hum jack the market up in the first 90 minutes rally to down almost 1% in a jiffy.
You know what weak economic data means? More stimulus in 2010! Yee haw. (quick! hide the real economy!) Just another dip to buy as we wade towards S&P 3500!
The Chicago Purchasing Managers' Index for September has just been released. It came in at 46.1, which is below the 52.0 that was widely expected and down from the 50.0 that was registered in August.