Photo: Feng Li/Getty Images
In his morning overview of what he’s chatting about with traders, Stifel, Nicolaus’ Dave Lutz writes: This week’s most closely watched data release will be Wednesday’s “flash” estimate of China’s manufacturing PMI for October.
Actually, this will probably be the most-watched Flash PMI number in Chinese history, for two reasons.
For one thing, there’s virtually no data this week in the US. Seriously, the calendar is very light, so just by virtue of the data vacuum, everyone will be interested.
Furthermore, there’s lots of buzz about green shoots/comebacks in China, and the Flash PMI may be the first legitimate chance to get a glimpse at that.
Between those two things, this will probably be the most closely watched on ever.