Archive for October 5th, 2010

ISM Services Index Moves Higher in September

| October 5, 2010

The Institute for Supply Management (ISM) reported that its non-manufacturing index moved up to 53.2% in September from 51.5% in August. Consensus expectations were for a reading of 52.0%, so the actual number was slightly better than expected. The employment index also moved higher to 50.2% from 48.2% in August. “The NMI (Non-Manufacturing Index) registered […]

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The Bank of Japan Cuts Interest Rates

| October 5, 2010

The Central Bank of Japan cut interest rates to essentially zero today, spurring a rally in global equity markets. The motivation for the move was a deteriorating economic outlook. “The Bank of Japan said the new program was designed to ‘encourage the decline in longer-term interest rates and various risk premiums to further enhance monetary […]

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Short-term Forecast for October 5, 2010

| October 5, 2010

Stock Daily Chart Analyses The following daily chart analyses provide short-term forecasts for the stock markets that we monitor. For intermediate-term outlooks see the latest weekly review, and for long-term outlooks see the big picture update. The S&P 500 Index The index closed sharply higher today on above average volume, breaking well above congestion resistance […]

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