US500 soars to all-time highs despite more weak data

Today’s key macroeconomic releases from the US clearly missed expectations with the ADP report showing another modest increase in employment, ISM pointing at the weakest growth in non-manufacturing sector since August 2017 and factory orders falling for the 3rd time in the past 4 months. That has not stopped the bulls – the US500 keeps soaring for the third day and has just crossed the 2990 level for the first time ever.

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