Tuesday, September 3, 2013

Today's Market Up-Date 11:00am EST

- Investor sentiment was high heading into the US stock market open. 

September appeared off to a much better start than August finished, aided by better economic data out of China and Europe along with two high profile M&A announcements. 

US August manufacturing data surpassed expectations with the ISM registering its highest reading since August of 2011 and new order growth accelerated. 

The better than expected data has set the tone for what will be a pivotal week in terms of the Fed's ultimate decision on tapering. 

Equity prices have given back a small portion of the early gains but remain well into positive territory while Treasury prices are under pressure and the selling only accelerated post the better than expected ISM numbers. 

The US long bond is down 2 points from Friday while the 10-year benchmark yield has backed up towards 2.9%. 

WTI has drifted back above $108. Syria continues to be a focus but any US military action has been put off until after Congress returns to session next week which has relieved some pressure.- SourceTradeTheNews.com

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