Could the Market Get Crushed by Consumer Crunch?

Could the Market Get Crushed by Consumer Crunch?

Posted On October 3, 2019 1:21 pm

Stocks initially extended their losses this morning, following another set of disappointing data points from the Institute of Supply Management, this time it was lower than expected growth in the services sector.

Unlike yesterday’s manufacturing data, which fell below 50 indicating a contraction, today’s non-manufacturing index came in at 52, suggesting it’s still expanding. But, the number was below 55 expectations and included some disturbing trends such as new orders dropping six percentage points to 51 — the largest month-to-month decline in over four years.

Once… Continue reading at StockNews.com 

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Steve Smith

Steve Smith have been involved in all facets of the investment industry in a variety of roles ranging from speculator, educator, manager and advisor. This has taken him from the trading floors of Chicago to hedge funds on Wall Street to the world online. From 1987 to 1996, he served as a market maker at the Chicago Board of Options Exchange (CBOE) and Chicago Board of Trade (CBOT). From 1997 to 2007, he was a Senior Columnist and Managing Editor for TheStreet.com, handling their Option Alert and Short Report newsletters. The Option Alert was awarded the MIN “best business newsletter” in 2006. From 2009 to 2013, Smith was a Senior Columnist and Managing Editor for Minyanville’s OptionSmith newsletter, as well as a Risk Manager Consultant for New Vernon Capital LLC. Smith acted as an advisor to build models and option strategies to reduce portfolio exposure and enhance returns for the four main funds. Since 2015, he has worked for Adam Mesh Trading Group. There, he has managed Options360 and Earning 360, been co-leader of Option Academy, and contributed to The Option Specialist website.

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