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Strategies & Market Trends : Classic TA Workplace
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To: The Freep who wrote (56882)10/17/2002 12:03:44 PM
From: bruceleroy1_-  Read Replies (2) of 209892
 
12:02 ET Philly Fed weaker than expected
The Philly Fed index fell to -13.1 in October from 2.3 in September, much weaker than the consensus of -4.0. This index has been very volatile in recent months, and while its indication of a soft manufacturing sector has been accurate, it has not done a good job of projecting the magnitude of the weakness. The market is already turning lower on this report, though this report shouldn't have that much impact given its dubious predictive power.
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