Markets Mixed as U.S. Manufacturing Contracts in Nov., Greece Offers Debt Buyback
Tweet Send to a Friend
U.S. markets are higher on the session Monday amid new manufacturing data showing a slowdown in growth, which is being offset by strong data out of China and Greece buying back a little debt.
The Institute for Supply Management’s (ISM) factory index fell to 49.5 last month, from 51.7 in October and the consensus calling for a dip to 50.0. The number was the lowest reading since July 2009, data show.
Reading above 50 indicate growth in a segment, while numbers below indicate contraction.
The ISM's new orders reading fell from 54.2 down to 50.3 in November, Export orders fell by 1 point to 47 and production rose from 52.4 to 53.7 last month.
In China, HSBC’s Purchasing Managers' Index jumped to 50.5 from 49.5 in October.
Greece used some of its bailout money to repurchase €10 billion (about $13 billion) of bonds. The debt-riddled nation is aiming to ease some of that burden moving forward, positioning itself better in the instance it needs to tap international markets again in the future.
The S&P and Nasdaq are positive today, while Dow Jones Industrial Average is lower.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
The Institute for Supply Management’s (ISM) factory index fell to 49.5 last month, from 51.7 in October and the consensus calling for a dip to 50.0. The number was the lowest reading since July 2009, data show.
Reading above 50 indicate growth in a segment, while numbers below indicate contraction.
The ISM's new orders reading fell from 54.2 down to 50.3 in November, Export orders fell by 1 point to 47 and production rose from 52.4 to 53.7 last month.
In China, HSBC’s Purchasing Managers' Index jumped to 50.5 from 49.5 in October.
Greece used some of its bailout money to repurchase €10 billion (about $13 billion) of bonds. The debt-riddled nation is aiming to ease some of that burden moving forward, positioning itself better in the instance it needs to tap international markets again in the future.
The S&P and Nasdaq are positive today, while Dow Jones Industrial Average is lower.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Bernanke Warns Against 'Premature Tightening'
- Net Long-Term March TIC Flows -$13.5B vs $35B Expected
- Bloomberg Consumer Comfort -30.2 vs -29.5 Prior
Create E-mail Alert Related Categories
Economic Data, Market CheckRelated Entities
Standard & Poor's, HSBC
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
