For Immediate Release
Chicago, IL – February 2, 2010 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: La-Z-Boy (LZB), Ethan Allen (ETH), Freeport McMoRan (FCX), Nucor (NUE) and Ford (F).
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Here are highlights from Monday’s Analyst Blog:
ISM Manufacturing Index Soars
The Institute for Supply Management’s survey of the Manufacturing sector of the economy rose by 3.5 points to 58.4 in January from 54.9 in December. That far exceeded consensus expectations for an increase to 55.5. It is also the highest reading on the consensus index since August of 2004.
Overall this was a very positive report. However, it only deals with the Manufacturing side of the economy. On Wednesday, the ISM non-manufacturing or Service index is due out. It does not have the long and venerable history that the Manufacturers’ index has, but it covers a much larger part of the economy. In recent months it has been running significantly below that of the manufacturing index.
Still, this is a very strong report showing that manufacturing has lots of momentum so far in 2010. It is also a stunning turnaround from where we stood just a little over a year ago. While we have a long way to go, this report indicates we are clearly headed in the right direction.
In terms of the industries, the furniture industry was consistently noted as being on the weak side of things, which is not a good omen for the likes of La-Z-Boy (LZB) or Ethan Allen (ETH). On the other hand, primary metals and Transportation equipment were consistently mentioned among the industries showing strength. That probably bodes well for firms like Freeport McMoRan (FCX) and Nucor (NUE) as well as firms like Ford (F).
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