The March ISM services index is weaker than expected, falling to 51.4 from 52.6 and coming in below the 52.8 consensus. Out of the 52 forecasts submitted to Bloomberg, only one person predicted anything weaker than this outcome - remember that vehicle sales (yesterday) came in below everyone's expectations and construction spending (Monday) came in below everyone's expectations, but the strength in the ISM manufacturing survey has dominated the commentary and market direction since its release Monday morning. The details show business activity holding steady at decent levels, but new orders cooled below the six-month ... (full story)