Chicago PMI falls into negative territory in Sept. = Contraction
Date: September 28, 2012 10:11AM
Like Al Capone putting out a hit on the market, the release of ugly manufacturing data in the Chicago PMI laid stocks to rest this morning in as violent a manner as possible. The index tracking Chicago manufacturing fell to 49.7 in September from 53 i n August, indicating that manufacturing is contracting in the area. It was the lowest reading in three years.
Look for a pretty big tumble in the dow today.