Aggressively Flat

Manufacturing activity inches higher. Construction spending drops. Auto sales strong but could be better if they stop including exploding airbags. ECB and OPEC on tap tomorrow. Jobs report on Friday. Something doesn’t add up in the cloud. Dell tried to snooker shareholders. Cut the salt.
Financial Review by Sinclair Noe for 06-01-2016

DOW + 2 = 17,789
SPX + 2 = 2099
NAS + 4 =  4952
10 Y + .01 = 1.84%
OIL - .22 = 48.88
GOLD – 2.30 = 1213.70

It turned out to be an aggressively flat day on Wall Street. The Dow kicked off the morning with a 120 point drop and the S&P 500 index posted an early 22 point slide, followed by clawing and scratching back to slightly positive territory.

Manufacturing activity grew in May but at a very slow pace that suggests the sector is unlikely to speed up anytime soon. The Institute for Supply Management said its manufacturing index rose to 51.3% last month from 50.8% in April. Readings over 50% indicate more companies are expanding instead of shrink