The king of manufacturing surveys, the ISM Index was released this morning. The reading of 50.8 is lower than last month’s 51.8, where a calculation above 50 is considered positive. The stock market opened to the downside on the news that the manufacturing sector was again slowing. Assisting the selloff in stocks, the ADP Employment Report showed the creation of only 156,000 new jobs last month, significantly fewer than the 196,000 expected. The ADP report has a less than perfect track record of coinciding with the official Jobs Report published by the Bureau of Labor Statistics, but the former has gained a greater following considering the questionable integrity of the latter’s accuracy in the last few years. It goes to show that everybody’s opinion matters. Watch for the BLS report this Friday.