Today’s ISM manufacturing blew away expectations, coming in at 56.3 vs. 52.9 expected, and the stock market has melted up as a result.
- The Dow is up 2.43%
- The Nasdaq is up 2.93%
- The S&P 500 is up 2.76%
More importantly, a bevy of stocks have broken out of their recent down-trends thanks to today. These are all large cap names who just broke above their 200-period moving averages, after suffering from ugly trends just previously.