A raft of new data points pushed indices broadly lower this morning following the pre-market report of disappointing GDP numbers.
The Institute for Supply Chain Management said its index of purchasing managers‘ activity in the Chicago area in April rose to 63.8 in April, better than the 60 reading expected, boosted by employment and new orders.
The University of Michigan and Thomson Reuters, however, reported consumer sentiment dipped to 72.2 in April from 73.6 in March, although that could be taken as a positive factor, given the preliminary number for April had been lower, at 69.5, and was revised upward. The report exceeded the 71 reading economists had been expecting.
Despite the bright spots in those reports, the Dow Industrials are down around 30 points at 11,138, and the S&P 500 is off 6 points at 1,201, giving up earlier gains.
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