US Economy : Strong Growth, Resilient Labor, But Manufacturing Weakens The final third-quarter GDP reading revealed a more robust US economic performance than initially anticipated. Economic growth was revised upward to 3.1% on a quarter-over-quarter annualized basis, surpassing the earlier estimate of 2.8%. Personal consumption also saw an u...
ECB Cuts Rate to 3.25%, Signals Growth Concerns as US Data Surges Yesterday, the European Central Bank (ECB) made an expected move by cutting its deposit facility rate to 3.25%. This decision didn't come as a surprise, as the market had already priced in this outcome through OIS futures. All 65 analysts surveyed by Bloomberg, including our ow...
US PMIs Surpass Expectations, Contrast Sharp Declines in Europe Following this morning's disappointing European PMI data, the preliminary June US PMI figures were anticipated to see a slight decline but still remain in expansion territory (above 50) for both manufacturing and services Contrary to expectations given the poor US macroeconomic d...
Global Markets Weekly Wrap KW 23 : U.S. Services Surge While Manufacturing Faces Ongoing Challenges U.S. Market Update Key market indices had mixed results this week The S&P 500 and Nasdaq Composite hit record intraday highs while smaller-cap indices saw declines Growth stocks significantly outperformed value stocks driven by falling long...
Conflicting Signals: Services PMIs Show Weakness Amid Price Surge After observing the conflicting signals from Manufacturing PMIs (with ISM increasing while S&P Global decreasing), along with notable price spikes in both surveys, today's Services PMIs failed to provide any clearer insight. S&P Global's Services PMI for March settled a...