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Wednesday, August 02, 2006

Quick update on The ISM & CSI number

By Yaser Anwar, CSC of Equity Investment Ideas

Yesterday's ISM & consumer spending numbers have sent the market back down.

With the prices paid component of the report rose to its highest reading since October, reports Reuters. The index jumped to 78.5 from 76.5 in June. The prices paid index is a measure of inflationary pressures in the manufacturing sector.

The Commerce Department’s consumer spending index shows higher prices as well. The combined reports could make the Fed think twice before pausing its rate hikes.

Last thrusday i told readers to sell into the strength that we saw 'cause Fed will raise two more times. If you did so, you're doing well.

Both the ISM & CSI point to one thing! FED WILL KEEP RAISING RATES. Check back tomorrow, i'll write about how you can navigate through the market even when the Fed keeps raising rates.

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