WHIFF: JULY ISM FALLS BELOW 50, SIGNALING MANUFACTURING CONTRACTION

General Motors Assembly Line Auto Plant Car

Photo: AP

UPDATE:

Not a good number.

49.8 is below 50, meaning contraction. And that’s for the second strait month.

Analysts had actually expected a gain to 50.2.

Major bummer for a crucial number.

Stocks are still higher.

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The final big datapoint of the day is the July ISM report, a measure of US manufacturing that represents the end of global PMI day.

Generally PMIs have been coming in very bad, but analysts actually expect a rise from 49.7 to 50.2 for the month.

Earlier, the Markit US PMI (which should yield a similar number) came in at 51.4.

Remember, anything above 50 is expansion.

We’ll have the number here LIVE at 10:00 AM ET.

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