Market Commentary
PMI |
Headline |
Trend |
France |
57.2 |
76 Month high |
Germany |
55.8 |
77 month high |
European Union |
56.7 |
4 month high |
United States |
54.6 |
2 month low |
Flash composite of purchasing manager’s activity out this morning underscores the economic momentum enjoyed in Germany and France, and even though the US is trailing, there are positive notes in the details.
US PMI Index
Activity in the United States’ private sector is at a seven month peak paced by “new work” only slightly slowed by recent hurricanes (which has bumped cost inflation in manufacturing). According to Markit’s, backlog data supports the best hiring in manufacturing this year while service inputs reflect the strongest selling prices in three years.
The underlying growing strength of the economy is the cornerstone of my bullishness for the stock market, but there are certain truths at this moment.
The next breakout on news, preferably strong jobs and wage data, will be monstrous coupled with across the board short squeezes.
Have a nice weekend.
Tweet |
3/28/2024 1:39 PM | Fruitful Quarter |
3/28/2024 9:50 AM | LISTEN TO THE MARKET |
3/27/2024 1:40 PM | Mostly Higher |
3/27/2024 9:32 AM | U-TURN? |
3/26/2024 1:08 PM | Everything Is Up |
3/26/2024 9:42 AM | TAPPED OUT (I HOPE YOU AT LEAST GOT A T-SHIRT) |
3/25/2024 1:33 PM | Not A Mutiny |
3/25/2024 9:35 AM | STAYING THE COURSE…BEYOND TECH |
3/22/2024 12:56 PM | Toll on Americans |
3/22/2024 9:38 AM | A TAD TIRED |
3/21/2024 1:55 PM | Building on Gains |
3/21/2024 9:30 AM | A COMFORTING FED |
3/20/2024 1:33 PM | Pivotal Moment |
3/20/2024 10:00 AM | HERE COMES THE FED |
3/19/2024 1:33 PM | Picking Up Steam |
3/19/2024 9:35 AM | RUMBLINGS IN THE BOND MARKET |
3/18/2024 1:48 PM | Mag 7 is Back |
3/18/2024 9:39 AM | THE PARTY IN SAN JOSE WILL BE LIT |
3/15/2024 1:38 PM | Realtors Settle |
3/15/2024 9:33 AM | AN UNEASY PAUSE |
3/14/2024 1:43 PM | Sticky Inflation |
3/14/2024 9:48 AM | GOING TO A GO-GO |
3/13/2024 2:16 PM | Taking a Breather |
3/13/2024 9:51 AM | ALL SO EPIC |
3/12/2024 1:42 PM | Marching Higher |
More commentary archives |
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