Today’s ISM Manufacturing Index was a winner in the sense that it showed the goods-producing sector expanded for the 12th straight month. Growth is good, more so than ever at this critical juncture. The crowd certainly understands this. As the AP reported today via the LA Times: “Wall Street reacts favorably to the Institute for Supply Management report, the first major economic indicator for July, sending the Dow up 208 points.” It’s certainly good news, but does it fall short on the labor front?
Daily Archives: August 2, 2010
JULY WAS HOT, BUT COOLER DAYS AHEAD ARE LIKELY
July was a great month for the major asset classes—prices rose across the board. It was the best calendar month overall for the markets since last November, the last time that all the broad measures of stocks, bonds, REITs and commodities posted gains in a single month. Indeed, the Global Market Index (a passive measure of all the major asset classes) rose 5.7% in July, its best month since May 2009.