Markets fell on Thursday. The S&P 500 fell 1.6 percent while the STOXX Europe 600 fell 0.9 percent. The yield on US 10-year Treasuries fell 6 basis points to 2.51 percent.
Economic data on Thursday were mixed.
US durable goods orders plunged a record 18.2 percent in August after jumping 22.5 percent the prior month.
Driving the fluctuation were orders for transport equipment. Orders for civilian aircraft fell 74.3 percent in August after jumping 315.6 percent the previous month while orders for automobiles fell 6.4 percent last month after rising 10.0 percent a month earlier.
Encouragingly, orders for non-defense capital goods excluding aircraft rose 0.6 percent in August after falling 0.2 percent in July.
Also on Thursday, Markit reported that its flash US services PMI showed a fall to 58.5 in September from 59.5 in August. That pulled the composite PMI down to 58.8 in September from 59.7 in August.
Meanwhile, in the euro area, the European Central Bank reported that M3 money supply rose 2.0 percent in August from a year earlier, up from 1.8 percent in July. Loans to the private sector fell 1.5 percent, albeit better than the 1.6 percent fall in July.
No comments:
Post a Comment