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Today's Economic Data Highlights
A light day, with only the ISM nonmanufacturing index this morning and the weekly confidence survey later in the afternoon….
10:00: ISM nonmfg index for Sep…consolidation? This index has been a bit quicker than its manufacturing cousin to show a slowing in growth, having dropped nearly 3 points in August. Our forecast is for this deceleration to consolidate around this level. The employment index slipped back into contraction territory last month, and while we don’t forecast it specifically we would not be surprised to see it stay there.
GS: 52; median forecast (of 75): 52, ranging from 50 to 53.3; last 51.5.
17:00: ABC consumer comfort index…It edged up one point last week, to -45.
From Goldman Sachs
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CONFIDENCE IS UP! BRING OUT THE POMPONS!!
today is POMO day is it not?
and so is tomorrow. perfect time to load risk with cash on two days with little or no economic releases. better get it in before nonfarm friday and earnings kickoff.
these are the last POMOs on the current schedule, as well. could be heavy? the next schedule will be tentatively released on the 13th so at least no more POMO, after tomorrow and today, until the 14th....
wonder what they'll be up to in the mean time :) probably "reviewing" the AA, INTC and JPM releases.
ISM, will it be gasoline or water?