Wednesday, February 1 Market Recap

WEDNESDAY (DJIA +84) Global purchasing managers indexes are ticking up, indicating the global economy is strengthening. Eurozone inflation is falling and came in at 2.7% for January. The ADP employment report came in at 170K new jobs vs. 182K expected; still a good number. The ISM manufacturing index was 54.1 vs. 54.5 expected, below expectations but still indicates an expanding economy. Chrysler reported its first profit in 5 years. Facebook filed for its IPO. Up 152 pts early, gains were pared as the day wore on.