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OPINION

Service Economy Bounce

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Non-farm manufacturing for March came in at 54.5, climbing off a two-year low and beating the consensus estimate of 54.0. The report halted a market freefall as good news was a sigh of relief for investors, albeit a temporary one. The most crucial part of the report is employment bouncing back from contraction.

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Sadly, the rebound was short-lived as the market is looking at its worst back to back session in weeks.

The Dow Jones Industrial Average sees key support at 17,623. Then 17,500 looms as a must-hold support point.


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