Markets Are Chugging Higher Amid Slew Of Crucial Numbers

Tornado A1 Steam Train

Photo: Ian McDonald/A1SLT

From an economic perspective, there are two stories this morning:

  • Asia saw mostly positive PMI Manufacturing reports, with China leading the way, helping to allay fears of a hard landing. Numbers in Korea and Taiwan were also solid.
  • Europe is mostly very weak. The periphery is still in bad shape, and now France is getting bad. Germany continues to hold up.

Overall though, the markets are mostly positive.

The rally was much bigger in the early going in Asia, but it faded somewhat to end the day.

The Nikkei was up close to 1% at one point, but it only ended up 0.26%.

In Germany, the DAX is up 1%. In France, the CAC-40 is up 0.5%.

Spain and Italy are both in the red, with drops of more than 0.5%.

US futures are up modestly.

For a full roundup of PMI numbers, see here.

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