Facebook Inc. (FB | 18.06 [ -5.40%]) is once again at a new low since the IPO in late May. FB is now more than seven points below its fifty day moving average. FB had a high in August that jumped over $22 but has been below $20 for most of the second half of the month. In pre-market trading today, FB dropped another half of a percentage point to 17.97. Where is the bottom? Amazon.com Inc. (AMZN | 248.72 [+0.18%]) sneaks higher overnight, trading about 120 thousand shares and edging higher $0.45.
A market moving report, the ISM manufacturing Index, will be released today at 10:00 AM EST. The ISM surveys 300 manufacturing firms on employment, production, new orders, supplier deliveries, and inventories. Readings above 50 percent indicate expanding, while below indicates contracting. Fed surveys have some southern cities improving while some New England cities continuing to be negative in the index, leaving the consensus before announcement below 50.