The October's ISM Manufacturing Report came in slightly below consensus and has now contracted for eight straight months.

There were positives:

• New Orders
• Employment
• Prices

Major indices pulled back after coming out of the gate with some gusto but have since reversed higher (sans the Dow Jones industrial Average (DJIA)). But it’s another ugly session under the hood of this rocket ship.

PLTR on Deck

Palantir (PLTR) reports after the closure. The company is on a hot streak beating the street, and lately the stock has been rewarded.

The stock is priced for near term perfection and would need a monster blow out number not to give back a little.