As it turned out, the market was undaunted by the S&P negative outlook on U.S. debt. After the initial shock wore off, which took one down-day last Monday, the market bounced back and was quite positive for the rest of the week. Read more about What the Market Wants: 4 Stocks for an Odd Market
Overall, the ISM reports brought in good but not great news; however they were overshadowed by the poor jobs report of last week.
As it turned out, the market was undaunted by the S&P negative outlook on U.S. debt. After the initial shock wore off, which took one down-day last Monday, the market bounced back and was quite positive for the rest of the week.