Wall Street sees quiet start to 2009
AP
Published: January 2, 2009
Published: January 2, 2009
Wall Street is largely brushing off a weaker-than-expected report on the manufacturing sector.
Stocks are fluctuating in a narrow range, showing little reaction to the Institute for Supply Management’s report that manufacturing activity index fell to the lowest level in 28 years in December.
The ISM’s manufacturing activity index fell to 32.4 from 36.2 in November. Economists expected a reading of 35.5.
Wall Street has largely factored in more disappointing economic news. Trading is light Friday with many investors taking a long holiday weekend.
The Dow Jones industrial average is up 5 at the 8,778 level. Other major indexes are also little changed.
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