U.S. OCTOBER ISM FACTORY GAUGE RISES TO 59.3 FROM 55.4; EST. 56, NEW ORDERS UP TO 67.9 FROM 62

Another impressive beat in the US ISM Manufacturing PMI today with the headline number at a 2-year high of 59.3. Moreover, the New Orders component this month increased to 67.9, which saw the strongest growth since 2004, whilst customer inventories made a fresh decade low (a positive for future production demand). Expansion in this pro-cyclical leading indicator is considered positive for risk assets, such as equities.

I explained in our recent Trading Club meetings how continued momentum in this indicator would add to our conviction in the positive score presented 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.

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