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Suppose the Institute for Supply Management (ISM) announces that its survey index is 54. Suppose that the long-term average of the index is also 54,

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Suppose the Institute for Supply Management (ISM) announces that its survey index is 54. Suppose that the long-term average of the index is also 54, that last month's value was 50 and that the consensus estimate for this month was 56. What is the likely reaction of the stock market? Stock market will trade sideways Stock market will be up on the announcement Stock market will be down on the announcement

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