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Stocks Rebound As Chicago PMI Changes Its Mind, "Corrects" Earlier Dismal Data To Highest...

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What a total farce. After Market News International reproted a dismal 4-month low drop in Chicago PMI this morning which sparked a decent reality check drop in stocks, they decided to change their mind.

 

0945ET - U.S. MAY MNI CHICAGO REPORT BUSINESS INDEX AT 55.2; EST 57.0 - lowest since Jan 2017

 

1121ET - CORRECT: U.S. MAY MNI CHICAGO REPORT BUSINESS INDEX AT 59.4 - highest since Nov 2014.

 

And so stocks are rebounding.

 

20170531_PMI11_0.jpg

 

 

 

Meanwhile, MNI had a complete press release with a full breakdown substantiating the earlier report showing the 4 month lows in the Chicago PMI. Here is the original note.

 

20170530_mni_0.png

 

 

 

Also quite conveniently, employment has been revised dramatically higher, from 53.7 to 57.1

 

So "Fake Data" or just more Covfefe?

 

Chicago PMI went full covfefe

 

— GreekFire23 (@GreekFire23)

20170531_PMI11.jpg?1496244495

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