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Real Time Insight

The ISM non-manufacturing index came in at 58.6% for the month of August, 2.6% higher than 56.0% registered in July and substantiality ahead of the consensus estimate of 55.0%.  
 
This reading is the highest reading for the index since the creation of the index in January 2008.
 
Here are further details from the report:
 

  • Non-Manufacturing Business Activity Index increased by 1.8% to 62.2% 
  • The New Orders Index increased by 2.8% to 60.5% 
  • Employment Index increased by 3.8% to 57%
  • The Prices Index decreased by 6.7% to 53.4%

This report, combined with mixed-to-positive labor markets reports earlier this morning and a solid ISM manufacturing report earlier this week, proves that the economic recovery continues to gain momentum.

The 10-year note yield has surged to 2.97 % this morning.

Do you think that the market has already priced in a QE tapering ($10 billion to $15 billion) starting this month?

Zacks Releases Their 7 Best Stocks for September, 2014

These 7 were hand-picked from the list of 220 Zacks Rank #1 Strong Buys with earnings estimate revisions that are sweeping upward. Their stock prices are expected to rise sooner than the others.

Today, this Special Report is available to new Zacks.com visitors free of charge.

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Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
UTD THERAPE… UTHR 117.83 +28.51%
TRIQUINT SE… TQNT 20.67 +6.52%
RF MICRO DE… RFMD 12.47 +6.04%
VASCO DATA… VDSI 14.77 +4.68%
BANCO DO BR… BDORY 15.53 +3.95%