Chicago PMI falls nuch more than expected.

[Storm_surge]

The PMI was expected to come in today at 46.7 but only came in at 44.1.
The current level of 44.1 is below the level the index was at for the start of five of the seven recessions that have occurred since its inception.
Anything below 50 indicates contraction. Bottom line, this is not good.

 

[Overnight]

The PMI was expected to come in today at 46.7 but only came in at 44.1.
The current level of 44.1 is below the level the index was at for the start of five of the seven recessions that have occurred since its inception.
Anything below 50 indicates contraction. Bottom line, this is not good.

It's been below 50 for the past year. No big whoop.

 

[Storm_surge]

I think the amount of the shortfall is noteworthy.

 

[Overnight]

I think the amount of the shortfall is noteworthy.

Again I say, no big whoop. Chicago is a shithole country, anyways.

 

[Storm_surge]

I agree, chicago is a shit hole. I do think its the mid west region though.

 

[nitrene]

View attachment 324069

Again I say, no big whoop. Chicago is a shithole country, anyways.

I don't know exactly what PMI measures but it seems to mirror the markets rise or fall with a month lag. Markets bottomed in Oct 2022 & peaked in Feb/Mar 2023 & August 2023. It seems like a sentiment gauge.

 

[Overnight]

...It seems like a sentiment gauge.

It's not.

 

[Storm_surge]

Inflation numbers came in weaker than expected today and the market rallied. It started to decline after the Chicago PMI numbers came out.

 

[SunTrader]

$SPX went higher after the release, sold off later based on gap up and traders taking profits/positioning for gap fill. ChiTown PMI a nothingburger:-