More weak data met with more trade happy talk

THU, OCT 03, 2019

YOUR AFTERNOON NEWS UPDATE AND MARKET ACTION FROM CNBC

AS OF THU, OCT 03, 2019 • 12:05 ET

DJIA		26052.70
		-0.10%	-25.92

S&P 500		2890.40
		+0.10%	+2.79

NASDAQ		7807.10
		+0.28%	+21.85

EDITOR'S NOTE

Very short on time today, so here's all you need to know:

10 a.m. ET: The ISM non-manufacturing survey misses expectations, dropping four points from August to a reading of 52.6. That's still not terrible--it means the service sector is still expanding--but it's the lowest since before President Trump was elected. Market tanks, Dow falls as much as 300 points, 10-year yield sinks to 1.5%.

10:20 a.m.: President Trump, in a walk-by on the White House south lawn, says a trade delegation from China is coming next week for trade talks. Market starts moving up off the lows. Continues to do so once the live sound of his remarks is carried on air a half-hour later.

11:04 a.m.: S&P 500 and Nasdaq turn positive.

11:09 a.m.: Dow turns positive.

Does all this make logical sense? That's what we'll be debating on The Exchange today. See you at 1 p.m.!

Kelly

Kelly Evans
@KellyCNBC

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