The Stock Market Scorecard is designed to provide a succinct summary of the “state of the market.” The scoreboard includes indicators covering trend, momentum, mean-reversion, sentiment, and fundamental factors over the short-, intermediate-, and long-term time frames.
The big number out of the US today is the September ISM non-manufacturing index. The September ISM non-manufacturing index came in at 52.6 compared with the expected 55.3, which is down big from August's 56.4.
Well, well, well, the odds of a Fed rate cut in October just popped to 65 percent, which is up from 40 percent after the most recent ISM Purchasing Managers Index dropped from 49.1 in August to 47.8 in September.
MARKETS DOWN MODESTLY AS CHINA DEVALUES ITS CURRENCY, YIELDS DROP AND EARNINGS SEASON WINDS DOWN
Stalling U.S.-China negotiations and new tariffs on Mexico conspired to push the U.S. markets down this week, causing the markets to register their first monthly decline in 2019
All the major U.S. equity markets retreated this week, as trade tensions between the U.S. and China ratcheted up dramatically