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The Chicago PMI or Purchasing Managers Index missed expectations falling 3.6 points to 50.6 in October on weakness in new orders and production.

Dallas Fed regional factory index gained 2.2 points to -1.5 in October, marking nearly two years in the red as new orders and employment remained weak.

With a little over half of the Standard and Poors 500 companies having reported 3rd quarter earnings 65% have beaten the earnings number while 53% have exceeded revenue targets so far. Offering hope to ending the 5 consecutive quarters of declining earnings as earnings are tracking a 1% gain for the quarter as per a report from Bank of America. That said both forward guidance and uncertainty remain particularly with smaller companies so topline growth remains questionable.

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