Friday’s Midday Movers: 3 Stories Driving Markets
The major U.S. markets were wavering again on Friday as investors weighed manufacturing reports. As of noon:
|DIJA: +0.09% to 15,559.34||S&P 500: -0.11% to 1,754.69||NASDAQ: -0.3% to 3,907.82|
|Gold: -3.67% to 71.19||Oil: -1.41% to 22.39||U.S. 10-Year: +2.71% to 26.11|
Here are three stories helping shape the market Friday afternoon.
1. Manufacturing Expands Through October Despite Government Shutdown: Manufacturing conditions in the U.S. continued to improve in October despite the 16-day partial government shutdown. How much they improved, though, depends on whom you ask.
According to the Institute for Supply Management, which released the October reading of its Manufacturing Report on Business on Friday morning, business activity within the manufacturing sector actually accelerated for the month. Its headline purchasing managers’ index increased from 56.2 to 56.4, its fifth consecutive month of growth. New orders increased fractionally to 60.6, although the index for production fell from 62.6 to 60.8. The index for employment showed decelerated growth at 53.2, but growth nonetheless… (Read more.)