We got the ISM Manufacturing number. The prior month we had a bounce backhand everyone was excited about that, up at 52.60. Now the index collapsed to 49.40. That is a horrible number. Anything below 50 indicates contraction. (Select Sector Financial Select Sector SPDR ETF (XLF), SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM), SPDR Dow Jones Industrial Average ETF (DIA))
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
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