U.S. JULY ISM FACTORY INDEX RISES TO 54.2 FROM 52.6; EST. 53.6, HIGHEST SINCE MARCH 2019

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Monday saw another impressive beat in the ISM Manufacturing PMI, with the report sustaining its recent positive momentum following an almost 10 point increase to cross back above 50 last month. Moreover, the New Orders component this month came in at 61.5, and was similarly ahead of the 55.1 estimate, suggesting a significant improvement in in the economy.

Expansion in this pro-cyclical leading indicator is considered positive for risk assets, such as equities.

I explained in last week’s Trading Club meeting how sustained momentum (as we have seen) would add to our conviction in the positive score presented recently by our Business Cycle Checklist.

If you would like to learn more about this and the many other indicators that Lex and I follow as professional investors, check out our Million Dollar Traders online course and join me for my weekly updates at the Trading Club.

Disclaimer: For educational purposes only. Even though we do our best to provide reliable data, you should not trade based on this information. For more information go to www.milliondollartraders.com

© Copyright 2020 Lex van Dam Financial Education. Further distribution prohibited.

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