The Institute for Supply Management's Non-Manufacturing Index showed the services index grew faster than expected in September, the ninth-straight monthly gain.
The Chicago PMI will be released on Tuesday, the ISM Mfg Index on Wednesday, and the ISM non-mfg Index (services sector) on Friday.
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The Dow Jones Euro Stoxx index for financial services was up 1.4% on Tuesday afternoon.
The Markit Economics services index accelerated to a far-stronger 57.1 after 52.6 in February.
Thursday features the January ISM services index, December factory orders and the first look at fourth-quarter productivity.
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Archer believes the eurozone services index for won't go below 50% in 2008, but it'll probably continue to fall.
The Dow Jones Euro Stoxx index for financial services closed up 0.9% on Tuesday, after making bigger gains earlier on in the afternoon.
The PMI services index for the 17-nation bloc fell to 53.7 from 54.2 while the PMI composite reading dipped to 53.3 from 53.6.
August jobs data (the unemployment rate, change in nonfarm payrolls, wages and weekly hours) and the ISM services index will be published on Friday.
The expansion looks set to continue, according to this week's purchasing managers' services index, which recorded a sharp increase in business activity in January.
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The last time the eurozone's services index went below 50 was in mid-2003, when the eurozone was growing at the the snail's pace of 0.8%.
According to the ETF Finder at ETF Channel, BAC makes up 7.76% of the iShares Dow Jones U.S. Financial Services Index Fund ETF (IYG)which is trading lower by about 0.1% on the day Thursday.
According to the ETF Finder at ETF Channel, JPM makes up 10.97% of the iShares Dow Jones U.S. Financial Services Index Fund ETF ( AMEX: IYG )which is trading higher by about 0.3% on the day Monday.
According to the ETF Finder at ETF Channel, JPM makes up 10.16% of the iShares Dow Jones U.S. Financial Services Index Fund ETF ( AMEX: IYG )which is trading lower by about 1.3% on the day Monday.
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According to the ETF Finder at ETF Channel, C and BAC collectively make up 15.62% of the iShares Dow Jones U.S. Financial Services Index Fund ETF (IYG) which is lower by about 0.9% on the day Thursday.
According to the ETF Finder at ETF Channel, Bank of America Corp. ( NYSE: BAC) makes up 8.12% of the iShares Dow Jones U.S. Financial Services Index Fund ETF (IYG)which is trading higher by about 0.4% on the day Friday.
According to the ETF Finder at ETF Channel, Bank of America Corp. ( NYSE: BAC) makes up 7.85% of the iShares Dow Jones U.S. Financial Services Index Fund ETF (IYG)which is trading up by about 0.8% on the day Friday.
According to the ETF Finder at ETF Channel, Bank of America Corp. ( NYSE: BAC) makes up 8.13% of the iShares Dow Jones U.S. Financial Services Index Fund ETF (IYG)which is trading up by about 0.7% on the day Tuesday.
Other ETFs with a large Bank of America position include the iShares Dow Jones U.S. Financial Services Index Fund (IYG), with an allocation of nearly 9.8%, and the SPDR KBW Bank ETF (KBE) with an allocation of over 10.6%.
There was more downbeat news for the economy Thursday in the shape of a bigger than forecast decline in the April reading of the PMI services index, which fell to 54.3 from 57.1 consistent with sharp drops in construction and manufacturing detailed earlier this week.
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Other U.S. economic data due for release Friday includes ISM non-manufacturing index and the global services PMI.
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The Services PMI index is a key indicator of the European economy, more so than the index for manufacturing.
The eurozone's services activity index slowed to a two-and-a-half year low, to 53.1, in December--it had been at 58 in August.
The ISM Non-Mfg Index, covering the services sector, also declined in March.
Unlike the goods and services prices index, the GDP deflator measures change In compensation of employees, operating surplus (including mixed income), and consumption of fixed assets arisen from changes in prices and nominal net taxes.
After slicing and dicing the ETFs I track I found near term positive divergences from the consumer sectors, as represented by the Consumer Discretionary Select Sector SPDR Fund ( XLY), the Consumer Staples Sector SPDR Fund ( XLP) and the iShares DJ US Consumer Services Sector Index Fund (IYC).
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When a portfolio manager for an index fund performs additional management services, the fund is no longer passive.
The composite purchasing managers' index for the manufacturing and services industries rose to 48.3 in December from 47.0 in November.
The Markit eurozone services purchasing managers' index (PMI) rose to 49.2 last month, up from 48.8 in February.
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