Indices Pulling Back On ISM Number, Remain Firmly Positive (SPY, QQQQ)
Symbols: SPY
Posted in: Intraday Update, Movers
Stock prices are pulling back from the highs hit on Friday morning after a better than expected jobs report. The August ISM Services index, however, posted a worse than expected decline. Consensus estimates called for the indicator to register at 53.0, whereas the actual number was 51.5.
Currently, the Dow Jones Industrial Average is 80 points higher at 10,400. The SPDR S&P 500 ETF (NYSE: SPY) is 1.32% higher at $110.90. The PowerShares QQQ Trust ETF, which tracks the performance of the Nasdaq 100, has gained 1.09% to $45.76.
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