ISM manufacturing PMI comes in light at 48.7

ISM Manufacturing Index - The October ISM manufacturing index came in at 487%, lower than expected and equaling the level in August, with a lower number last seen in July [1] - The index has not been positive (above 50%) since January and February [2] Prices Paid - The prices paid index came in at 580%, following 619%, representing the second lowest of the year outside of January's 549% [2] - A light reading on prices paid is considered positive [2] New Orders - The new orders index was 494%, sequentially higher than 489% [2] - 494% represents the strongest number since August, marking six consecutive readings below 50% [3] Employment - The employment index came in at 460%, sequentially higher than last month's 453% [3] - 460% is the best reading since May's 468%, highlighting overall weakness [3] - The only number above 50% in expansion territory was January's 503% [3] Interest Rates - Interest rates are starting to come down slightly [3] - The 10-year rate is basically unchanged [4]