9:00 AM US Nov PMI Manufacturing rises to 52.8 vs consensus of 52.1, 51.0 in Oct. (PR)
9:00 AM On the hour: S&P +0.49%. 10-yr -0.19%. Euro +0.52% vs. dollar. Crude +0.86% to $89.67. Gold +0.32% to $1718.15.
Today's manufactuing ISM numbers (49.5) are so good they indicate recession and will prompt another downward revision of GDP. Lowest numbers since July 2009.
Mfg employment down almost 4 pts, same for new orders. Just rosy stuff.
Wait, as in on cue, JPM cut its GDP forecast cut to 1.5%
True! Still in recession...and it will have to be admitted shortly.
49.5% ISM is certainly not good. But you have to thanks Sandy and obstructionists to resolve the Cliff.
98% of tax payers are being screwed because the top 2% oligarchs want their unjustified 2002/2003 tax cuts permanently.