[August 01, 2011] SmarTrend Midday Market Recap -- August 1, 2011 (DJI,INX,IXIC) Tweet Aug 01, 2011 (SmarTrend(R) Market Commentary via COMTEX) -- Last updated August 1, 2011: 12:15 PM ET --- The major U.S. equity indices are trading lower Monday following weaker-than-expected data on manufacturing and as uncertainty over the debt deal continues. The Institute for Supply Management's manufacturing gauge in July fell 4.4 points to 50.9%, which is the weakest reading since July 2009. Economists had expected the index to reach 54.3%. The index has fell 9.5 points since April. Lawmakers are expected to vote later today on an agreement over a deal to hike the federal borrowing limit. The agreement includes $2.4 trillion in spending cuts over 10 years. It has investors concerned about the risk to the U.S. AAA sovereign debt rating. The Dow Jones Industrial Average (DJI) is trading 1.14% lower at 12,004.81, the S&P500 (INX) is trading 1.12% lower at 1,277.85, and the Nasdaq Composite (IXIC) is trading 1.16% lower at 2,724.43. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup [ Back To TMCnet.com's Homepage ]