Monday, August 1, 2011

Econodata Aug 1

Parade of weak manufacturing data from around the world.
UK, Spain, Irish, Taiwan, and HSBC China PMIs came in below 50, which signifies contraction. Germany, France, Italy, and EZ PMIs came in just above 50. This is weighing on stocks around the world as I type. There is no better indicator than manufacturing sector on where the economies are heading.

We await ISM Mfg PMI @ 10 am. I will update you then.

50.9 a lot weaker than expected.

You wanna go long market? You better have a direct line to Mr. Bernanke, and know something we all do not know.

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