US's ISM report, the Institute for Supply Management manufacturing index fell to 49.6% in August,less than the expected figure of 50.2%.
In fact US's ISM seems to be the best among some other countries in the world last month. So it is a global enterprise shortfall in figure.
That is the reason why the Dow at one point is down triple digit, more than 100 points. Bad news is bad news today, with no expectation of QE3 in the pipeline.
Do take note of Friday's Non farm payroll. Currently based on my analysis, this month's non farm results might be close to what the analysts think or slightly better. Further analysis needs to be done this Thursday to gauge the employment report on Friday.
Having said that, I think any drop this week provides a tremendous opportunity to pick up some stocks, especially with the FOMC coming up on the 12th September. This time, expectation will be high, and has a good chance of propelling the stock market forward.
For mid term investors, it is also a good chance to buy stocks on a discount.
(Btw, Apple might be releasing its iphone news on 12th Sep too! Do take note of this stock... it has been consolidating for sometime now...)