I thought increased manufacturing weakness would yield more to the downside. Instead it's turned big losses into big gains. Go figure.
I think sell/buy algorithms rule the intraday/day-to-day trading now. I mean ya can't tell me these markets moves largely on reports, earnings, dividends anymore.
...manufacturing weakness... ... big losses...That's what we're being led to believe but I'm not at all impressed w/ those secret proprietary formulas that the ISM folks use to measure industrial output. Two more transparent measures are industrial production and gross output:
They don't exactly agree but neither shows a decline over the past year.