Could the Market Get Crushed by Consumer Crunch?

Another set of disappointing data points from the Institute of Supply Management

Stocks initially extended their losses this morning, following another set of disappointing data points from the Institute of Supply Management, this time it was lower than expected growth in the services sector.

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Non-manufacturing index came in at 52

Unlike yesterday’s manufacturing data, which fell below 50 indicating a contraction, today’s non-manufacturing index came in at 52, suggesting it’s still expanding.

New orders dropping six percentage points to 51

But, the number was below 55 expectations and included some disturbing trends such as new orders dropping six percentage points to 51 — the largest month-to-month decline in over four years.

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Once… Continue reading at StockNews.com 

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