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Thursday, June 03, 2004 3:34:50 PM
Chart of the Day
http://www.chartoftheday.com/20040602.htm
Today, the Institute for Supply Management (ISM) reported that the Purchasing Managers Index (PMI) now stands at 62.8, which suggests that the economy continues to expand at a rapid pace. Today's chart illustrates how the stock market has often corrected soon after the PMI crossed above 60. How so? A surging economy puts upward pressure on inflation and interest rates, which can dampen earnings and decrease the relative attractiveness of stocks. Stay tuned...
Notes:
- A PMI reading greater than 50 indicates that the manufacturing economy is expanding.
- What are the latest economic and financial indicators saying about the stock market? Find out with the exclusive long-term stock market charts, indicators, and studies of our premium service Chart of the Day Plus.
http://www.chartoftheday.com/20040602.htm
Today, the Institute for Supply Management (ISM) reported that the Purchasing Managers Index (PMI) now stands at 62.8, which suggests that the economy continues to expand at a rapid pace. Today's chart illustrates how the stock market has often corrected soon after the PMI crossed above 60. How so? A surging economy puts upward pressure on inflation and interest rates, which can dampen earnings and decrease the relative attractiveness of stocks. Stay tuned...
Notes:
- A PMI reading greater than 50 indicates that the manufacturing economy is expanding.
- What are the latest economic and financial indicators saying about the stock market? Find out with the exclusive long-term stock market charts, indicators, and studies of our premium service Chart of the Day Plus.
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