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Ignore the Noise

Among the recent run of bad news is the start of a new trend, or just noise? Economic data will continue to be uneven, but keep your eye on the improving trend.

Robert Johnson, CFA 12 October, 2009 | 0:00
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In last couple of weeks, economic indicators such as employment, initial jobless claims, and consumer confidence were announced, with all posting clearly negative results. My old standby, the ISM (Institute of Supply Management) Purchasing Managers Index (PMI), continued to be in a growth mode but was less than expectations and not as bullish as the month before. Housing provided a bright spot with house pricing data from Case-Shiller and pending home sales knocking the cover off the ball on the upside.

The market reacted accordingly, and the Dow dropped 1.9% for the week those figures are anno

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About Author

Robert Johnson, CFA  Robert Johnson, CFA, is director of economic analysis with Morningstar.

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