At 10am USA ISM Manufacturing PMI for February rose to 49.50 verse the prior month’s reading of 48.20. Estimates for today’s number were around 48.20.
The markets have been rallying since the data, and appear to be holding onto their gains early on.
Construction spending data was also out at 10am and a beat; US January construction spending +1.5% vs the +0.3% expectations.
The push has the NASDAQ within range of closing the gap it left behind on February 1st when Google’s parent company Alphabet reported earnings, see below:
