Today’s key macroeconomic releases from the US clearly missed expectations with the ADP report showing another modest increase in employment, ISM pointing at the weakest growth in non-manufacturing sector since August 2017 and factory orders falling for the 3rd time in the past 4 months. That has not stopped the bulls – the US500 keeps soaring for the third day and has just crossed the 2990 level for the first time ever.
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