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Real Time Insight

Investors were steeling themselves for a disappointing ISM Services reading for November after the manufacturing index missed the consensus on Monday. But the ISM Services Index came in much hotter than expected at 54.7% compared to the consensus of 53.6%. It was the 35th straight month of expansion.

The real story was in the sub-indexes, however, which were mixed.

The new orders index shot up 3.3% to 58.1% whereas the employment index sank 4.6% to 50.3%. It's likely the employment index was impacted by Hurricane Sandy.

Businesses WANT to believe in the recovery, however. ISM said that a majority of survey respondents exhibited "cautious optimism" about current economic conditions.

Can much be made about the ISM reports given Hurricane Sandy's impact on the data?

 

Zacks Releases Their 7 Best Stocks for August, 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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