Greenshoots everywhere..mite be some short covering tomorrow too...i could have gone with a few more days like this last year....
U.S. May ISM factory index highest since Sept. Story Comment Alert Email Print Share By Greg Robb
WASHINGTON (MarketWatch) - The nation's manufacturers continued to cut back production in May, but not as rapidly as during the worst of the downturn, the Institute for Supply Management reported Monday. The ISM index rose to 42.8% in May from 40.1% in April. The rise was stronger than expected and the strongest since September. The consensus forecast of estimates collected by Marketwatch was for the index to rise to 42.0%. Readings below 50 indicate contraction. The index has been below 50% for 16 straight months. The ISM index has been improving slowly since hitting a low of 32.9 in December. A key sub-index, new orders, rose to 51.1% in May.
And
Retail stocks rise on expectation for improved May sales Explore related topics S&P Retail Index Aeropostale Inc Abercrombie & Fitch Co Gap Inc Story Quotes Comment Alert Email Print Share
By Andria Cheng, MarketWatch
NEW YORK (MarketWatch) - Retail stocks rose Monday on expectation that retailers' May sales report this week may show further signs of stabilization in an industry that has been battered by across-the-board consumer cutbacks.
The S&P Retail Index /quotes/comstock/10u!rlx.x (RLX 333.23, +14.31, +4.49%) rose 3.2% to 328.99.
Pent-up demand, warmer weather, less steep levels of promotions from the holidays and improved consumer confidence are expected to lessen the decline in demand in May, analysts said. Retailers have controlled inventory to help reduce discounts.
Discounters and value oriented retailers such as Aeropostale Inc. /quotes/comstock/13*!aro/quotes/nls/aro (ARO 35.69, +1.14, +3.30%) are still expected to outperform their pricier rivals such as Abercrombie & Fitch Co. /quotes/comstock/13*!anf/quotes/nls/anf (ANF 31.58, +1.47, +4.88%) , analysts said.
While analysts estimated Gap Inc. /quotes/comstock/13*!gps/quotes/nls/gps (GPS 18.55, +0.72, +4.04%) , the largest U.S. clothing chain, to post a decline of about 3% to 5% because of lower sales at its namesake and Banana Republic chains, its discount unit Old Navy is expected to show an increase, analysts said.
Wal-Mart Stores Inc. /quotes/comstock/13*!wmt/quotes/nls/wmt (WMT 49.78, +0.04, +0.08%) shares were flat at $49.77 ahead of the company's annual shareholders meeting on Friday. Wal-Mart stops reporting monthly same-store sales.
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