Markets were mostly lower on Wednesday.
The S&P 500 dipped 0.1 percent and the STOXX Europe 600 fell 0.7 percent.
Economic data on Wednesday were mostly positive.
The IHS Markit flash US manufacturing PMI rose to a reading of 62.6 in June, the highest since the survey was expanded to cover all manufacturing industries in October 2009. IHS Markit’s flash US services sector PMI dropped to 64.8 from 70.4 in May but was still the second highest since data collection began in October 2009.
In the euro area, the IHS Markit flash composite output index hit a 180-month high of 59.2 in June. The services PMI rose to 58.0 in June from 55.2 in May while the manufacturing PMI held steady at 63.1 in June.
Craig Johnson, chief market technician at Piper Sandler, sees “some volatility curveballs, but not strikeouts for the secular bull market”.
No comments:
Post a Comment