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Strategies & Market Trends : Dave Gore's Trades That Make Sense
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To: Dave Gore who started this subject8/15/2002 12:07:25 PM
From: Dave Gore  Read Replies (2) of 16631
 
PHILLY FED NUMBER WEAK --- This may be enough to start the expected slide in the Markets now. We'll see how resilient it is. It's a volatile number and probably not very indicative of the whole economy but the Market will use any excuse to buy or selloff. We'll see.


12:02 ET Philly Fed weaker than expected
The August Philly Fed index actually dipped into negative territory in August at -3.1 (6.6 in July), indicating a decline in manufacturing activity in the Philly Fed region. The new orders index fell to -2.7 from 6.6. The market has slipped on this report, as it suggests that the manufacturing lull in July continued into August, though the Philly Fed index is not always an accurate indicator of national activity.
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