ISM indeed proves to be a surprising rebound off the 50 mark, bouncing off a contraction region where last month it drops below 50. Good report pushes the DOW at one point to be up 150.
But all eyes are now on the employment report this Friday. Expectations are raised. Let us see if DOW can really recover after June setback.
With the company results coming in next week, it would be interesting to see how market reacts to this non farm.
We would give our opinion as to whether this non farm has a higher tendency to be over or below estimates.