The ISM Manufacturing Index fell 0.2 point to a reading of 48.1 in November. However, gold struggles to find momentum. What is going on exactly?
U.S. Manufacturing Sector Slumps Further
The Institute for Supply Management announced that its index of national factory activity dropped from 48.3 in October to 48.1 last month. The number was below expectations and it also remained below the 50 threshold, indicating contraction – shrinking for the fourth straight month. In other words, the manufacturing sector is still in recession.
We all know that. But what about the future and the broad economy? Well, situation looks better here, as the ISM index remains above the 42.9 level, which is associated with a recession in the broader economy. And the recent improvement in China’s PMIs prompt some to say that the ISM is bouncing along the bottom. Moreover, the strike at General Motors is over, while Boeing hopes to resume deliveries of its 737 MAX.
Are these guys good, or what! On Wednesday, with Boeing shares getting clobbered, DaBoyz somehow managed to close the Dow six points higher on the day. That may not sound impressive, but considering that Boeing is by far the most heavily weighted stock in the Industrial Average, the feat was akin to getting a 747 Dreamlifter airborne with two engines out and a half-dozen Abrams battle tanks in its belly. The effort was rewarded with exactly the kind of headline Wall Street needed to distract the herd from the urgent distribution that has been occurring daily: Dow Tacks on a Modest Gain in Quiet Trading. This innocuous report belies the increasing likelihood that the steep recovery begun on December 26 is about to breathe its last.
By Alex Gray – Re-Blogged From https://www.weforum.org
Five years from now, it might take three hours and 15 minutes to fly from New York to London, or five and a half hours to get from San Francisco to Tokyo. That’s half the amount of time it currently takes.
Those are the promises being made by several companies working on supersonic air travel. But to others, this is just a pipe dream.
By Andrew West – Re-Blogged From http://patriotupdate.com
First, there were the reports that Trump had met with Boeing, manufacturers of Air Force One, and successfully negotiated a much lower price tag than originally signed off on. Now, it seems that the Trump-Boeing rendezvous had much more discussion than just Air Force One.
Donald Trump, while not yet inaugurated as President, is already working diligently on saving the American taxpayer a boatload of money.