Industrial ETFs Stay Strong After Weak ISM Manufacturing Data

Between Japanese volatility seeping into U.S. markets and all eyes still trained on the Fed in hopes of some warning before ending its massive bond buying program, global markets are looking for some good news to pull returns back up. Unfortunately, the slew of reports that came in Monday morning had little to do with the pop in global indexes, and even the ETFs affected by these reports have shaken off the bad news [see S&P 500 Visual History]. U.S. Manufacturing Data Fails to Meet Expectations The latest national manufacturing report, compiled by the Institute for Supply Management, came in significantly below analysts’ expectations for the third month in a row. Coming in at 49 after a prediction of 50.6, this surprise drop is the largest contraction in four years. Even more worrisome, the ISM uses 50 as the dividing line between growth and contraction, and May’s 49 is the first slip into contraction [...] Click here to read the original article on ETFdb.com. Related Posts: Friday’s ETF Chart To Watch: XLI Flirts With Resistance Ahead Of Durable Goods Data ETFdb Weekly Watchlist: XHB, TLT, XLI Hinge On Housing, Durable Goods And Bernanke 7 Articles ETF Investors Must Read: 5/9 ETF Insider: U.S. Bull Market Hits All-Time Highs Industrial ETFs Still Lagging After ISM Manufacturing Data