Empire Manufacturing: Not so Fast

The NY Fed’s Empire Manufacturing survey missed by a mile. The August General Business Conditions index fell to 3.7 versus 15 expected and 17.2 in July. While employment, input prices and selling prices edged slightly higher, the average workweek, unfilled orders and inventories all declined.

VIX’s nightly pump and dump, however, has futures solidly in the green. Can it hold?

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