Chicago PMI Increases Sharply in December

Chicago PMI jumped sharply in December to it's highest level in almost 3 years. The index, typically released before the more important ISM manufacturing index, jumped significantly from 56.1 in November to 60.0. The consensus expected the index to fall by 1 point to 55.1. All categories jumped significantly - notable among them being employment, which jumped from 41.9 (contraction) to 51.2 (expansion). If this report can be replicated at the national level on Monday, when the ISM manufacturing index is due, this can cause some real movement in the market.