Thursday, 2 February 2012

U.S. stocks rise on global manufacturing data

Dear Friends,

Bear in mind, the word is "GLOBAL". Starting from China,  to Europe.

China’s official Purchasing Managers’ Index (PMI) is 50.5 in January, beating analysts’ expectations of 49.5 in a poll by Dow Jones Newswires.

German Purchasing Managers Index rose to 51.0 in January from 48.4 in December, slightly beating consensus expectations. 

The euro-zone PMI rose to 48.8 in January, which was above the estimate of 48.7

In the U.K., PMI rose to an eight-month high of 52.1 in January, beating estimates of 50.1

Yesterday, US market choose to ignore the estimates miss by the ADP employment and ISM data because of the good PMI data globally and of course the IPO of a potential powerhouse stock Facebook (FB).

In US, the ADP employment report is 170K, missing the estimates of 189K. ISM is 54.1, missing the estimate of 54.6.

Though the market seems bullish for now, I continue my view to wait for the employment report on Friday and to trade with caution this February. 

Regards
Daniel

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