Wednesday, 24 September 2014

Stocks fall amid mixed purchasing managers' data

Stocks fell on Tuesday. The S&P 500 declined 0.6 percent while the STOXX Europe 600 tumbled 1.4 percent.

The US 10-year Treasury yield fell 4 basis points to 2.53 percent but West Texas Intermediate oil rose 0.8 percent while gold rose 0.3 percent.

Purchasing managers' data on Tuesday were mixed.

In the US, Markit's preliminary manufacturing PMI for September was 57.9, unchanged from August and the highest in more than four years.

In China, HSBC's preliminary manufacturing PMI for September came out at 50.5, up from 50.2 in August.

However, in the euro area, Markit's composite index fell to 52.3 in September from 52.5 in August. The services index fell to 52.8 from 53.1 while the manufacturing index fell to 50.5 from 50.7.

And on Wednesday, a report from Japan showed that the Markit/JMMA flash manufacturing PMI for September indicated a fall to 51.7 from 52.2 in August.

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