Afternoon Coffee: ISM Non-Manufacturing Index Rises, PMI Also Up in March

The non-manufacturing sector in the US grew during March, according to the latest report from the Institute for Supply Management. The non-manufacturing index reached 56.5%, the business activity index hit 57.5% and new orders hit 57.8% (up from 56.7% in February).

The services sector also experienced gains last month. Markit reported today its Purchasing Managers Index for the services sector hit 59.2 in March, a rise from the 57.1 in February.

Discussions of a possible merger between mining companies Glencore PLC and Rio Tinto PLC could spark up again this week. The 6-month moratorium on such talks (set by UK law) ends Tuesday.

And, Comcast is stepping up its lobbying efforts to convince regulators to green light its merger with Time Warner.

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