NEW YORK FED INDEX FALTERS SWAMPING INDEX FUTURES

http://www.newyorkfed.org/survey/empire/empiresurvey_overview.html

"The Empire State Manufacturing Survey indicates that conditions for New York manufacturers deteriorated in June. The general business conditions index slipped below zero for the first time since November of 2010, falling twenty points to -7.8. The new orders and shipments indexes also posted steep declines and fell below zero. The index for number of employees dropped fifteen points to 10.2."