Dec 07 Non Manuf ISM PLunge not real

[Digs]

Why, beacused ISM change the formula for its calcultion.

But market sold off 3%, so I expect mkt to rally back next week, hard !!

http://www.bloomberg.com/apps/news?pid=20601087&sid=a2VGaRdrKS3Q&refer=home

..."New Measure

Today's U.S. services report included a new composite index to reflect changes in current measures of business activity, new orders, employment and supplier deliveries. The contribution from each sub-index is equal.

The new composite index was 44.6 in January. It would have been 53.2 in December, according to Bloomberg calculations based on a formula provided by ISM. "...

 

[Free Thinker]

Quote from Digs:

Why, beacused ISM change the formula for its calcultion.

But market sold off 3%, so I expect mkt to rally back next week, hard !!

http://www.bloomberg.com/apps/news?pid=20601087&sid=a2VGaRdrKS3Q&refer=home

..."New Measure

Today's U.S. services report included a new composite index to reflect changes in current measures of business activity, new orders, employment and supplier deliveries. The contribution from each sub-index is equal.

The new composite index was 44.6 in January. It would have been 53.2 in December, according to Bloomberg calculations based on a formula provided by ISM. "...

that news was out all day and the market still sold off. why would it make a diff next week?

 

[MKTrader]

The new calculation was announced in advance, though. Bloomberg and other places had already written about it. It was no surprise.

It was still a very poor ISM number, even the market over-reacted a little.

Quote from Digs:

Why, beacused ISM change the formula for its calcultion.

But market sold off 3%, so I expect mkt to rally back next week, hard !!

http://www.bloomberg.com/apps/news?pid=20601087&sid=a2VGaRdrKS3Q&refer=home

..."New Measure

Today's U.S. services report included a new composite index to reflect changes in current measures of business activity, new orders, employment and supplier deliveries. The contribution from each sub-index is equal.

The new composite index was 44.6 in January. It would have been 53.2 in December, according to Bloomberg calculations based on a formula provided by ISM. "...