Rally Fading, Nasdaq Goes Negative


Photo: Google Finance

Markets were surging earlier this morning, but have since given back gains.The tech stock heavy Nasdaq is underperforming.  Sprint Nextel, Red Hat, and AMD are among stocks down by more than 2%.

The big number of the morning was the September ISM Manufacturing index, which jumped 51.5 from 49.6 last month.  The number was also well ahead of economists’ consensus expectations of 49.7.

One big winner today is Goldman Sachs, which is likely benefitting from a bullish write-up in the new Barron’s.

Also: MORGAN STANLEY: These 42 Stocks Are Winners No Matter What Happens In The Economy >

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