{"id":141,"date":"2011-03-31T16:23:52","date_gmt":"2011-03-31T15:23:52","guid":{"rendered":"http:\/\/timiacono.com\/?p=141"},"modified":"2019-06-16T16:24:26","modified_gmt":"2019-06-16T15:24:26","slug":"more-on-the-ism-and-stocks","status":"publish","type":"post","link":"https:\/\/timiacono.com\/index.php\/2011\/03\/31\/more-on-the-ism-and-stocks\/","title":{"rendered":"More on the ISM Index and Stocks"},"content":{"rendered":"

Pursuant to Rich\u2019s point in this earlier\u00a0item\u00a0about the gains for stocks continuing long after the ISM Manufacturing Index peaked, that is indeed quite true \u2013 the S&P500 actually rose more than 40 percent from the time that the ISM reached its 2004 high until the 2007 peak for stocks, so, \u201cportending doom\u201d was clearly a poor choice of words for the title (though, in my own defense, it\u00a0is<\/em>\u00a0followed by a question mark \u2026 so there).<\/p>\n

Nonetheless, there is an uncanny correlation between the ISM Manufacturing Index and the year-over-year change in stock prices as demonstrated in the chart below.<\/p>\n

Of course, none of this probably matters since the board members who matter on the Federal Reserve are convinced that they\u2019ve got to keep stock prices elevated, and they\u2019re getting better and better at it all the time. Unfortunately for them, they\u2019re also getting better at making commodity prices go higher too, which seems to be causing trouble latel<\/p>\n","protected":false},"excerpt":{"rendered":"

Pursuant to Rich\u2019s point in this earlier\u00a0item\u00a0about the gains for stocks continuing long after the ISM Manufacturing Index peaked, that is indeed quite true \u2013 the S&P500 actually rose more than 40 percent from the time that the ISM reached its 2004 high until the 2007 peak for stocks, so,… Continue Reading More on the ISM Index and Stocks<\/span><\/i><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\nMore on the ISM Index and Stocks - The Mess That Greenspan Made<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/timiacono.com\/index.php\/2011\/03\/31\/more-on-the-ism-and-stocks\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"More on the ISM Index and Stocks - The Mess That Greenspan Made\" \/>\n<meta property=\"og:description\" content=\"Pursuant to Rich\u2019s point in this earlier\u00a0item\u00a0about the gains for stocks continuing long after the ISM Manufacturing Index peaked, that is indeed quite true \u2013 the S&P500 actually rose more than 40 percent from the time that the ISM reached its 2004 high until the 2007 peak for stocks, so,… Continue Reading More on the ISM Index and Stocks\" \/>\n<meta property=\"og:url\" content=\"https:\/\/timiacono.com\/index.php\/2011\/03\/31\/more-on-the-ism-and-stocks\/\" \/>\n<meta property=\"og:site_name\" content=\"The Mess That Greenspan Made\" \/>\n<meta property=\"article:published_time\" content=\"2011-03-31T15:23:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-06-16T15:24:26+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Estimated reading time\">\n\t<meta name=\"twitter:data1\" content=\"1 minute\">\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/timiacono.com\/#website\",\"url\":\"https:\/\/timiacono.com\/\",\"name\":\"The Mess That Greenspan Made\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/timiacono.com\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/timiacono.com\/index.php\/2011\/03\/31\/more-on-the-ism-and-stocks\/#webpage\",\"url\":\"https:\/\/timiacono.com\/index.php\/2011\/03\/31\/more-on-the-ism-and-stocks\/\",\"name\":\"More on the ISM Index and Stocks - The Mess That Greenspan Made\",\"isPartOf\":{\"@id\":\"https:\/\/timiacono.com\/#website\"},\"datePublished\":\"2011-03-31T15:23:52+00:00\",\"dateModified\":\"2019-06-16T15:24:26+00:00\",\"author\":{\"@id\":\"https:\/\/timiacono.com\/#\/schema\/person\/a06ca3e96a3bd4687b6cf4059cc533c9\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/timiacono.com\/index.php\/2011\/03\/31\/more-on-the-ism-and-stocks\/\"]}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/timiacono.com\/#\/schema\/person\/a06ca3e96a3bd4687b6cf4059cc533c9\",\"name\":\"timiacono\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/timiacono.com\/#personlogo\",\"inLanguage\":\"en-GB\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/643084f9dd2199caa1626e7fc69324fb?s=96&d=mm&r=g\",\"caption\":\"timiacono\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","_links":{"self":[{"href":"https:\/\/timiacono.com\/index.php\/wp-json\/wp\/v2\/posts\/141"}],"collection":[{"href":"https:\/\/timiacono.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/timiacono.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/timiacono.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/timiacono.com\/index.php\/wp-json\/wp\/v2\/comments?post=141"}],"version-history":[{"count":1,"href":"https:\/\/timiacono.com\/index.php\/wp-json\/wp\/v2\/posts\/141\/revisions"}],"predecessor-version":[{"id":142,"href":"https:\/\/timiacono.com\/index.php\/wp-json\/wp\/v2\/posts\/141\/revisions\/142"}],"wp:attachment":[{"href":"https:\/\/timiacono.com\/index.php\/wp-json\/wp\/v2\/media?parent=141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timiacono.com\/index.php\/wp-json\/wp\/v2\/categories?post=141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timiacono.com\/index.php\/wp-json\/wp\/v2\/tags?post=141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}