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To: The Ox who wrote (2044)	5/1/2013 3:40:26 PM
From: The Ox	Respond to of 8239

The bounce was only worth 25 cents, now back near the lows.....

To: The Ox who wrote (2044)	5/1/2013 10:52:03 PM
From: The Ox	Respond to of 8239

The Institute for Supply Management’s factory index fell to 50.7 from the prior period’s 51.3, the Tempe, Arizona-based group said today. Fifty is the dividing line between growth and contraction. The ADP Research Institute said private payrolls rose 119,000 last month, the least since September, while another report showed construction outlays slumped in March. Factories are pulling back as the need to rebuild inventories wanes, across-the-board federal budget cuts take hold and higher payroll taxes restrain consumer spending. Federal Reserve policy makers said today at the conclusion of their two-day meeting that they will continue to pursue record stimulus in an attempt to bolster the economy and job market. “Manufacturing is stalling a bit,” said Jim O’Sullivan, chief U.S. economist at High Frequency Economics Ltd. in Valhalla, New York, who was the best forecaster of ISM manufacturing over the past two years, according to data compiled by Bloomberg. “Hiring has probably slowed a little. For the Fed, it’s going to be full speed ahead.” Stocks and Treasury yields declined after the figures. The Standard & Poor’s 500 Index dropped 0.9 percent to 1,582.7 at the close in New York. The yield on the benchmark 10-year note decreased to 1.63 percent from 1.67 percent late yesterday. bloomberg.com