Stocks were weak early as selling resumed but a mid-day rally got markets positive briefly before selling resumed.
Perhaps that was some wasted buying power even as markets become short-term oversold.
Economic data was mixed overall as Jobless Claims fell to 282K vs 293K expected & prior 291K; PMI Services Index FLASH rose t 58.6 vs 57 expected & prior 57; and Kansas City Fed Mfg Index fell to contraction and a 2-year low at -4 vs 1 expected & prior 1. It’s interesting how manufacturing is slowing while service jobs increase. This is a pretty clear reflection of the growth in part time service jobs and manufacturing out sourcing overseas.
Curiously given the uncertain equity market, a two day Treasury auction