Below is a chart and excerpt from today's Early Look written by CEO Keith McCullough. 

What was bad yesterday? The SEP ISM report was way worse than any of the 2022 Bulls (or CFOs) ever called for:

  1. ISM Manufacturing #slowed to a 29-month Cycle Low of 50.9 in SEP vs. 52.8 in AUG
  2. ISM NEW ORDERS #slowed, big time, to 47.1 in SEP vs. 51.3 in AUG
  3. ISM EMPLOYMENT #slowed, big time, to 48.7 in SEP vs. 54.2 in AUG

So, seeking desperately for a new narrative, that’s when Bond Yields fell and Brokers started barking like dogs to BUY STAH-KS!

CHART OF THE DAY: ISM New Orders  - ism2