Strong ISM results, but interesting in that it doesn't point to a follow through on this morning's great ADP services employment jump. ISM detailed:
- "Overall business climate remains reasonably positive." (Management of Companies & Support Services)
- "Pricing pressures are starting to heat up." (Construction)
- "Outlook for 2011 is positive with an increase in spending." (Finance & Insurance)
- "Looks like more budget reductions are coming in the next year." (Educational Services)
- "Cotton prices are moving upward, but prices are being kept in line as the overall Asian market cools somewhat."(Retail Trade)
- "Business picking up for holiday — above expectations." (Transportation & Warehousing)
Source: ISM
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