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ISM Services Prints At 53.2, Beats Expectations, As New Export Orders Surge
So the ISM Manufacturing miss caused the market to surge, and the ISM non-manufacturing beat caused markets... to surge. ISM non-manufacturing came at 53.2 up from 51.5, slightly beating expectations of 52.0. The various components come as follows: New Orders: 54.9 vs. Prev. 52.4; Employment: 50.2 vs. Prev. 48.2; Prices: 60.1 vs. Prev. 60.3; Business Activity: 52.8 vs. Prev. 54.4.Although the one most important metric, and definitive outlier, was the Export New Orders, which exploded at 58, an increase of 11.5: the highest since June 2007. Thank you weak dollar: it appears the US is once again exporting weapons of mass financial destruction.
From the respondents survey - we dare readers to find the prevailing sentiment:
- "General state of the business has not changed in the last three
months. The market is still soft for new sales due to financing
requirements." (Construction) - "Business seems to be flat from last month." (Finance & Insurance)
- "Signs that the economy may be improving, but our sector is still
flat or declining." (Professional, Scientific & Technical Services) - "Business activity is generally stable — slightly better than last year." (Accommodation & Food Services)
- "Third quarter is looking profitable with improving confidence and
expectations in the economy. Capital expenditures are being approved."
(Wholesale Trade)
Full table:
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Again, don't make things too complicated. So simple, even a Turd can do it...
by Turd Ferguson
on Mon, 10/04/2010 - 12:12
#623998
Why a human trader wouldn't try to front-run the guaranteed rallies of tomorrow and Wednesday is beyond me. S&P 1135.55 as I type.
Whoever junked you must have went short yesterday afternoon, which shows their lack of knowledge.
In other news I see that 1050 seems to be the major selling point for many investors. Closing the TNA position after only a 5% rise :(
good call turd, I just wish I had your guts, looks like all the negative nellies have egg on their faces again, every dip is bought with vengence, i just wish I had balls left
I appreciate the compliment but accurately predicting S&P and/or gold moves really isn't too difficult once you realize that the "financial system" we've all known our entire adult lives is dead and gone. Buried in an avalanche of debt and fiat.
TPTB, in their increasingly desperate attempts to retain power, can be successfully front-run if you accept the new rules and don't try to fight.
Export orders for services!!!???
Give me a break.....is it 1% of the economy?
Yeeezzz.
Wonder if this is where they came from:
http://www.reuters.com/article/idUSTRE68C3S720100913
But this will strengthen the dollar and weaken the market? What about more qe?
Nothings changed, CB's tripping over themselves to splash out, dont think ISM is going to matter now. If we get a significant jobs number change on friday, that might get a few chins stroked.
HOLY GOLDMAN!
YOU SEE! Good thing DO happen to good people.
Holy AAPL...
uhm...what services do we export?
engineering?
Financial... LOL
You also seem to forget America is now THE NUMBER 1 EXPORTER OF:
1. Taco's
2. Burrito's
3. Piniata's
" When the facts change, i change my mind "
" Markets can remain irrational longer than you can remain solvent "
John Maynard Keynes
Lets stay nimble because it appears that even though the clock is broke, it trips over being right twice a day.
what service exactly do we export?
how can you export services ? (other than massage parlor-type services performed by asian immigrants - but then they're immigrants and wouldn't be counted in the domestic ISM, right?)
Maybe they mean Blackwater
This is a classic example of markets moving and the minions scrambling to explain why. So any reason is acceptable as long as it starts with "The markets rose because..."
Let's try this out for size.
"The markets rose this morning because Ben Bernanke reported an 21% larger bowel movement, a significant increase from yesterday."
"The markets rose this afternoon because President Obama reported 38% less zits on his nose, a significant reduction day over day."
See, it doesn't matter what the excuse is. Just that there's an excuse, a "cause" for the "effect".
http://www.washingtonpost.com/wp-dyn/content/article/2010/09/13/AR201009...
The USA produces at least 1 thing any1 else would want
These are the "rewards" a country receives for supporting the Empire's policies, buying it's fiat paper and selling oil to it.
Now why would we be selling advanced fighters, helicopters, ships, and anti-ballistic missile systems to the House of Saud?
The higher this goes the less they need a QE2...
Circular logic or circle jerk?
It goes higher because of the promise of QE2. And the only thing QE2 will do is devalue the USD. Which is why is goes higher.
Ergo:Circle Jerk.
One wonders who is going to eat the cracker?
Polly. As in "Polly want a cracker?"
Meaning middle class America. And by extension, the world.
watch out when you put polly on your shoulder.
It's a VERY agressive BEAST!
I know a guy that once got his eye poked out, lost his hand while feeding it and also got his leg shewed off by it!
Don't say I didn't warn you...
I hope your right. It's so priced in the market would react swiftly downward.
Selling more KFC, Soda Pop, Weaponry, and Treasuries.
Whoopee!
Happy Days are here again!
Let's party like it's 1932!
Oh wait....
I see the Bernanke Masturbation Index is doing quite well again today. He and Tim can eat it when they have finished. I'll eat my gold.
when does pomo end - I don't mean today, but is there an announced end to it as a program?
It will never end.
Even if they announce the end "officially" that doesn't mean they've actually stopped. There are covert pumps going on every day in addition to the public/overt pump.
There can be no end. They must pump or die. Which means they die later instead of today. It will end eventually in tears, not in a recovery.
How are the massive military contracts accounted for on these charts as it pertains to the economy? Like the hundreds of billions of advanced weapons sold to the Saudis, Israel, etc?
So what type of "services" are we exporting?
I know that Wall Street rejoices as the Dollar plunges, but that also means that input costs rise and the value of the Dollars paid to stockholders, bondholders, suppliers, and employees is devalued! Aren't we ultimately shooting ourselves in the foot for a mess of pottage?