Chicago PMI Much Better Than Expected

The Chicago PMI was just released, and it came in much better than expectations, sending stocks higher. The Chicago PMI showed a reading of 60.4 for September, much higher than the 55.5 analysts had been expecting. This strong manufacturing data sent stocks surging, with the Dow gaining 79 points to 10,914. The Nasdaq was higher by 15 points to 2,392, and the S&P 500 was better by 9 points to 1,154, a key break of the important 1,150 barrier.