Focus on Purchasing Managers Index and ISM as Economic Gauges

NinjaTrader
2 min readFeb 2, 2023

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Stock chart with Bollinger bands and volume information

If you’ve asked yourself, “what is purchasing managers index?” or wondered how the Purchasing Managers Index (PMI) and the Institute for Supply Management (ISM) index are key economic indicators, read more.

What to Take Away from the PMI and ISM Reports

The PMI and ISM provide guidance on factors affecting durable goods among other inputs. Can these reports provide insight into the effectiveness of the Fed’s actions in raising rates?

With the FOMC rate decision yesterday, we discuss possible outcomes in different markets based on not just the decision itself, but the messaging that follows.

Additional topics covered in the livestream include:

  • An explanation of how the CME FedWatch tools can be used on a longer time horizon
  • An assessment on the new voting members of the Fed
  • A look at the importance of Chair Powell’s messaging post-decision
  • A discussion on how the FOMC decision could affect equity and currency markets
  • Charting and price analysis Crude Oil futures

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