(as of 6:45 AM PST)
It's a good start to November on US markets with stocks higher on solid economic data. The October ISM number, a key indicator of economic activity was down slightly, but above analyst expectations and showing slight economic growth at 50.1. Anything above 50 indicates expansion. Construction spending for September was strong, and well above market expectations. On international markets, Asia was down heavily with Chinese arrests for insider trading making investors in that country very nervous. Europe, on the other hand, is eyeing a possible economic stimulus program and most indexes are strongly to the plus side. Good GDP and economic data in Europe are adding to investor enthusiasm. Earning season in the US is starting to wind down. There are a few big reports due out this week, but analysts will soon be looking to potential holiday sales and 4th Quarter projections to set market direction. Gold continues to slump while oil is down as well.
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