Salient to Investors:
John Lynch at Wells Fargo Private Bank said ISM was decidedly negative, and bad news can only be good news for so long for stock prices – at some point it will impact earnings and market levels.
Sam Stovall at S&P said the rally and strong start to the year may indicate further gains for stocks in June because there have been 13 7-month winning streaks since 1945 followed by an average 0.4 percent rise in the 8th month as stocks rose 62 percent of the time. The S&P 500 advances in January and February is bullish because the index has advance in each of the 26 years with such positive start since WWII.
Read the full article at http://www.bloomberg.com/news/2013-06-03/u-s-stock-futures-are-little-changed-before-factory-data.html
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