The US service sector grew at a slower pace, but companies maintained a solid hiring rate in October, according to a report issued on Wednesday by the Institute for Supply Management. The non-profit said its services index decreased to 57.1 from 58.6 in September. This index compiles four indicators: business activity, employment, new orders and supplier deliveries. The ISM surveys businesses … [Read more...]
Dow and S&P 500 post new closing highs after ISM correction
The Dow and the S&P 500 recovered from earlier losses by inching higher late Monday afternoon after a closely watched read on U.S. manufacturing was revised to show more strength than initially indicated. While the Dow was up 0.1 percent, the S&P 500 was up fractionally at 3:09 pm on Monday. The Nasdaq composite was recorded 0.2 percent lower. It is noteworthy, there had been lots of … [Read more...]