The eleventh-hour debt deal brought the briefest of bump in the US markets in early Monday morning trade. But the market soon turned glum with poor economic data coming out. The Institute for Supply Management's Purchasing Managers' Index (ISM Manufacturing Index) was down more than expected and HSBC lowered the US GDP growth forecast.
The US markets are believed to ail from bleak economic picture on one hand and the ongoing politics in Washington on the other hand. However, Richard Ross, global technical analyst at Auerbach Grayson says, that the real economic scene in US is drab, regardless of what comes out of Washington. In an exclusive interview to CNBC-TV18, he says the cheer over the positive earnings shouldnDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
