The Institute for Supply Management's gauge of factory output falls more than expected, to 49.1%, below the 50% threshold that indicates a contraction in manufacturing activity.
Historical charts and fundamentals show stocks are risky right now.
Consumer sentiment plunged more than expected last month to its lowest level of President Donald Trump's presidency, a monthly survey by the University of Michigan shows.
Prices on consumer purchases, excluding food and energy, rise by 0.2% in July, leaving them up 1.6% over the past 12 months, unchanged from the June pace. Consumers increased their spending, even though growth slipped in personal income.
Here's a standard playbook for how to protect against a sell-off. Beware, there are risks and there are no free lunches.
There are two big reasons why the odds of Treasuries moving higher from here are dismal.
Investment bank says historical trends indicate the U.S. will see a recession next May. Stocks would sell off roughly five months beforehand.
The U.S. government's Bureau of Economic Analysis reduces its estimate of second-quarter gross domestic product growth to 2%, from an initial estimate of 2.1%.