Todd Peters on Expansion Keyed by the Purchase Managers' Index | NECN Market Analysis

Purchase Managers’ Index Indicates Continued Expansion

Todd Peters, senior vice president at Adviser Investments, has the market analysis for Friday, September 21. Major U.S. stock indexes saw mixed results, with the Dow Jones Industrial Average hitting yet another record high after gaining an additional 0.3%. The S&P 500 fell fractionally and the NASDAQ was down 0.5%. IHS Markit released its Purchase Managers’ Index, which revealed a four-month high for manufacturing. Conversely, service-related companies fell to an 18-month low. Both manufacturing and services indexes reported levels above 50, indicative of a growing economy. Meanwhile, although Micron Technology beat sales and earnings estimates, its stock fell 3% on weak forward guidance and tariff-related concerns.

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