Investors on Edge as Soft Economic Data Poses Threat of Downward Breakout

September 1, 2016 11:34 AM EDT

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Stocks fell Thursday after soft ISM data showed a surprise contraction in U.S. manufacturing. Investors were already on edge ahead of August jobs data tomorrow morning, which comes at a critical time for markets given the Fed's focus on data dependence and indexes threatening to breakout of their tight August trading range.

The S&P 500 traded near 2160 heading into mid-day, closer to the August low near 2147 than the high at 2194.

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