Afternoon Note
By Charles Payne, CEO & Principal Analyst
10/5/2021 1:36 PM
Today marks the 737th turnaround Tuesday since 1990. Stocks are bouncing nicely, getting an extra boost from the ISM Service numbers, which came in much better-than-expected. It’s a reminder that the underlying economy remains resilient.
By the same token, we are also reminded of pricing pressure and the workers’ strike continues to slow full recovery.
- Headline 61.0 +0.2pp
- Business activity 62.3 +2.0pp
- New Orders 63.5 +0.3pp
- Employment 53.0 -0.7pp
- Prices 77.5 +2.1pp
ISM Non-Manufacturing
In fact, among those items mentioned in short supply includes truck drivers.
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Commodities in Short Supply Adhesives; Blood Collection Tubes; Chicken; Computer Equipment (2); Construction Contractors; Construction Subcontractors (2); COVID-19 Testing Kits; Drivers; Electrical Components; Fiber-Optic Cable (3); Generators; Heating, Ventilation and Air Conditioning (HVAC) Equipment; Labor (2); Labor — Temporary (9); Laptops and Desktop Computers (2); Media Supplies; Microchips (2); Needles and Syringes (2); Ocean Freight Containers; Pipette (7); Polypropylene; Resin-Based Products (2); Steel Products; Surgical Gloves; and Truck Drivers.
Note: The number of consecutive months the commodity is listed is indicated after each item. |
I think you have to hold your positions and prepare for a strong year-end rally.
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