Yes, the published consensus estimate was higher, but that survey was compiled before the Chicago PM was released. After that number was released, many Wall Street investors feared that we could see a 47 or 48 reading for ISM.
More Quotes from Anthony Chan:
The Fed is fully aware that a slowly recovering economy needs to be nursed carefully back to health before the doctor sends the patient home.Anthony Chan
The initial knee jerk reaction was a powerful rally in the morning. As cooler heads prevail, it's clear it's still a positive for equities, but the question is whether it is strongly positive or mildly positive.
Anthony Chan
This terrible tragedy is certain to severely dampen consumer confidence and hence have the possibility of shutting down the consumer.
Anthony Chan
This report kind of confirms the market's fears that the economy is limping around on just one foot. At same time, I don't think this report is telling us we're moving toward a recession.
Anthony Chan
This is a report that represents judgment day for the Federal Reserve,
Anthony Chan
The average hourly earnings figures were truly the spoiler of this report, ... It tells us that the Fed may now have to start becoming more vigilant about upcoming price pressures.
Anthony Chan
Readers Who Like This Quotation Also Like:
Humor is an affirmation of dignity, a declaration of man's superiority to all that befalls him.Romain Gary
I'll tell you the truth: I had a double brandy before the game but, before, it used to be four bottles of whisky. Not any more. I was fine. I had a glass of wine after the game. But it was just a mouthful.
Paul Gascoigne
If sexual intercourse, as the poets tell us, began in 1963, it was another decade and a half before the American political system began to take notice.
Michael Kinsley