In early morning trading, stocks moved up and bonds worsened but both are moving towards breakeven points in mid morning trading.  The early morning news was all better than expected.  In China, a strong Purchasing Manager's Index for September was released.  In the US, August Personal Income was up .5% vs .3% projected and .2% in July.  August Personal Spending was up .4% vs .3% expected and up .4% in July.  The August PCE Index (a measure of inflation at the consumer level was up .1% as expected.  The University of Michigan Final Consumer Sentiment Index for September came in at 68.2 vs 67.0 expected and 66.6 for August.  August Construction Spending was up .4% vs expectations for a .5% decline and compared to a revised 1.4% decline for July.  The data that turned the markets around was the September Institute of Supply Management (ISM) Manufacturing Index, which came in at 54.4, almost in line with expectations for a 54.8 reading, but which has some weaker sub components than were expected.  The New Orders component came in at 51.1 down from 53.1 in August and the Employment component came in at 56.5 down from 60.4 in August.