The October 2010 Manufacturing ISM Report On Business from the Institute for Supply Management was released today and it put PMI at 56.9 percent, an increase over September’s 54.4 percent reading. Since any reading above 50 indicates growth, this is good news. You can see the full report here.
Investors are on the edge of their respective seats this week as they await more quarterly financial results (including from BP Plc (NYSE: BP), MasterCard Inc (NYSE: MA) and Pfizer Inc (NYSE: PFE)), midterm election results and the Federal Reserve’s meeting and subsequent quantitative easing activities. As a result, the Dow Jones Industrial Average had a bumpy ride, rising as much as 113 points this morning and falling as many as 53 points this afternoon. The Dow closed up 3.25 points to 11,121.74. The Nasdaq fell 3.31 points to 2,504.10 and the S&P 500 rose .85 points to 1,184.11.
European markets were up on Monday while Asian markets were mixed with Japan’s Nikkei falling .52 percent.
Stocks in the news: JPMorgan Chase and Co (NYSE: JPM), Cablevision Systems Corp (NYSE: CVC), Wilmington Trust Corporation (NYSE: WL).