Stocks And Precious Metal Charts - Slowdown In US Manufacturing Stuns The Markets

The end of quarter antics of Wall Street hit a brick wall this morning, when before the bell the ISM Manufacturing Index came in at 47.8%, which was quite a miss, and showed the early signs, not only of slowdown but contraction. This also reinforced the Chicago PMI which came in with a shockingly low 47.1 on Monday.

And so stocks dumped and gold and silver rallied. The dollar was marginally lower.

I would not count these jokers out just yet. We have some additional data coming out this week, especially the Non-Farm Payrolls and the ISM Services Index, which may serve to provide the wiseguys some additional courage in their market manipulation.

After all, 'manufacturing' is so much an old economy thing, and services are where we wish to be. A nation of servants ruled over by a few oligarchs.

Have a pleasant evening.

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