Chicago PMI Surges to 58.7; Est. at 50.0; Markets Pare Some Early Losses
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(Updated - May 31, 2013 10:20 AM EDT)
U.S. markets pared some earlier losses, but are still lower on the session following strong Chicago PMI data.
The Institute for Supply Management-Chicago index of Midwestern business activity surged to 58.7 in May, from 49.0 last month. Consensus views were looking for a reading at 50.0.
The S&P 500 is down 4.5 points, Dow Jones down 27.2 points, and Nasdaq down 5.5 points Friday.
U.S. markets pared some earlier losses, but are still lower on the session following strong Chicago PMI data.
The Institute for Supply Management-Chicago index of Midwestern business activity surged to 58.7 in May, from 49.0 last month. Consensus views were looking for a reading at 50.0.
The S&P 500 is down 4.5 points, Dow Jones down 27.2 points, and Nasdaq down 5.5 points Friday.
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