Tuesday, 2 February 2016

Markets weak but US stocks flat

Markets were mostly weaker on Monday.

US crude oil plunged 5.9 percent, the Shanghai Composite Index tumbled 1.8 percent, the STOXX Europe 600 fell 0.2 percent and the S&P 500 finished flat.

“It’s impressive that despite the large rally on Friday, the market is hanging in there,” said Rob Bernstone, managing director in equity trading at Credit Suisse.

Economic data on Monday possibly provided some support for markets. JPMorgan's Global Manufacturing Purchasing Managers' Index edged up to 50.9 in January from 50.7 in December.

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