Business Activity Reports Are Mixed (DIA, SPY)

---

Business activity reports from Chicago and Texas are mixed this morning

The October Dallas Federal Reserve Texas Manufacturing Index recorded a substantial gain to +2.3 from last month’s -14.4, indicating improving business and manufacturing activity (AMEX:DIA) in the region.  This was the first positive reading in six months with employment also reaching a six month high while new orders declined.

Farther north, the Chicago PMI declined to 58.4 from last month’s 60.4, indicating slower business activity for companies (AMEX:SPY) in the region but still remained above the critical 50 level which indicates the borderline between expansion and contraction.

Tomorrow brings the widely watched national ISM report.

 Go here for a Special Offer from Wall Street Sector Selector 

Disclaimer:  Wall Street Sector Selector actively trades a wide range of exchange traded funds (ETFs) and positions can change at any time.