General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsStock Markets ain't happy. And 10yr Treasury yield touching all-time lows
Last edited Wed Apr 1, 2020, 12:11 PM - Edit history (2)
Dow 21,329.93 -587.23 -2.68%
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U.S. 10 Year Treasury Note
Last Updated: Apr 1, 2020 at 10:41 a.m. EDT
0.588% -0.089
EDIT: NOON Update
Dow 21,144.56 -772.60 -3.53%
S&P 500 2,487.35 -97.24 -3.76%
Nasdaq 7,456.46 -243.64 -3.16%
GlobalDow 2,376.28 -89.19 -3.62%
Gold 1,604.20 7.60 0.48%
Oil 20.34 -0.14 -0.68%
U.S. 10yr 0.590 -0.0879
Roland99
(53,342 posts)Manufacturers see biggest plunge in new orders and employment in 11 years ISM finds
Published: April 1, 2020 at 10:37 a.m. ET
By Jeffry Bartash
ISM manufacturing index shows biggest drop in orders since 2009
https://www.marketwatch.com/story/manufacturers-see-new-orders-plunge-to-11-year-low-as-coronavirus-spreads-ism-finds-2020-04-01
The Institute for Supply Management said its manufacturing index slipped to 49.1% last month from 50.1%. Readings under 50% indicate more companies are expanding instead of shrinking.
Economists surveyed by MarketWatch had forecast the index to drop to 44%, but the survey was completed before widespread sections of the U.S. economy were shuttered.
...
What happened: New orders for manufactured goods slumped in March. The ISMs new-orders index fell 7.6 points to 42.2% the lowest level since the end of the 2007-2009 Great Recession.
COVID-19 has caused a 30% reduction in productivity in our factory, said an executive at machinery manufacturer.
earthside
(6,960 posts)Oh, boy.
Roland99
(53,342 posts)I'm guessing I'd have a better chance at winning the Kentucky Derby, NYC Marathon and the first marathon on the moon (all on the same day) than the unemployment numbers being accurate.
Wounded Bear
(58,649 posts)and many, many more that couldn't get in because the circuits were jammed.
"Accurate" or not, this week promises to be equally bad, just on the holdover, plus new fires from last week.
Shit be getting real.
earthside
(6,960 posts)Events are moving too quickly.
Whatever the figure is, it is reasonable to assume that the real number is worse.
Today I am reading more news reports about folks who are being laid-off with little or no severance and an end to any benefits.
I'm curious to see how the markets respond, will they sell-off Thursday on expectation of a bad number? Or will the market wait until Friday for the 'inaccurate' number, but likely historically devastating unemployment rate?
Roland99
(53,342 posts)She's been working since last Sept but hasn't made $3,400 total since starting at the restaurant (been off most of March) so she's not eligible to file anyway.
I did offer her $20 to mow the front yard for me today....
SWBTATTReg
(22,114 posts)a correction so if anyone is complaining, I'm sorry, cry me a river. You had it good for quite a long time.
empedocles
(15,751 posts)malaise
(268,980 posts)−758.89
malaise
(268,980 posts)20,941.78 (4.45%)