The production index fell from 1.6 in August to -3.2 in September, while the New Orders Index fell from -4.2 to -5.2.
Today, traders also had a chance to view the Chicago PMI report for September. The report showed that Chicago’s PMI rose to 46.6 in September from 46.1 in August, compared to analysts’ forecast of 46.2.
The US Dollar Index moved higher as traders reacted to the Dallas Fed Manufacturing Index report. Currently, the US Dollar Index is trying to settle above the 100.60 level. Treasury yields gained some ground during today’s trading session, providing additional support to the US currency.
Gold has started moving away from the session lows around $2630 following the release of the report. Gold markets were under pressure during today’s trading session as traders took some gains off the table near all-time highs.
SP500 is heading towards the 5750 level as traders react to economic data. From a technical perspective, the SP500 continues to consolidate near all-time highs as traders wait for stronger catalysts.
Check out our economic calendar for an overview of all today’s economic events.