Two Ways: Economic Expansion Made in China
Strengthen your portfolio in good times and bad.
China's manufacturing sector continued to expand in June for a fourth consecutive month. In a story by Xinhua News Agency, the China Federation of Logistics and Purchasing said its purchasing managers index (PMI) rose 0.1 from May to 53.2 in June.
The survey was conducted by the National Bureau of Statistics and covered purchasing and supply managers at over 700 companies around China. The PMI numbers suggest that the Chinese economy continues to improve as a reading above 50 indicates expansion.
From the Bull Pen: The emerging market bubble burst in 2008 and skeptics were quick to ridicule the decoupling theory. But emerging market stocks may be different this time around should stocks correct. The Morgan Stanley A Shares Fund (CAF) is an opportunity into its 200 DMA (27.70). If and when.
From the Bear Cave: Here in US, bears can keep an eye on Allegiant Travel Company (ALGT). Leisure activity likely won't be at the top of the list for the consumer into the back half of 2009. In the short term, one can consider downside entry near $42 with a tight buy stop above that level.
Quick Check Around the World
Asian trading closed with the Hang Seng 0.81%, India 1.05%, Shanghai 1.65%, Nikkei -0.19%, and Taiwan 2.28%.
Glancing towards Europe, we see the FTSE 1.47%, CAC 1.65%, DAX 1.50%
As of 8:15 AM EST, S&P Futures are trading +6.60 to 922.00 and Nasdaq futures are +9 to 1485.75.
A Look at Commodities
Over in commodities, crude oil is trading +1.05 to 70.94 while gold is +2.80 at 930.20 this morning. Silver is +0.560 to 13.63 and copper +3.35 to 229.15.
The dollar index is -0.2150 to 80.2100.
On the Radar
08:15 ADP Employment Change -363k
10:00 Construction Spending -0.5%
10:00 ISM Index 44
10:00 Pending Home Sales 1.1%
10:30 Crude Inventories
02:00 Auto Sales
02:00 Truck Sales
Click here for the full list.
Good luck today!
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter