Business activity reports from Chicago and Texas are mixed this morningThe October Dallas Federal Reserve Texas Manufacturing Index recorded a substantial gain to +2.3 from last month’s -14.4, indicating improving business and manufacturing activity (AMEX:DIA) in the region.
This was the first positive reading in six months with employment also reaching a six month high while new orders declined.
Farther north, the Chicago PMI declined to 58.4 from last month’s 60.4, indicating slower business activity for companies (AMEX:SPY) in the region but still remained above the critical 50 level which indicates the borderline between expansion and contraction.
Tomorrow brings the widely watched national ISM report.
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More on this topic (What’s this?) SPY Technical Analysis (Scott’s Investments, 10/24/11) Chinese manufacturing takes a hit from abroad (naked capitalism, 8/31/11) The Decline of Manufacturing in America: The Role of Government Neglect (naked capitalism, 9/11/11) Read more on SPDR S&P 500 ETF, Manufacturing at Wikinvest
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