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☆ CNBC Daily Open: Big Tech needs to go beyond beating earnings expectations
▼ + stars: | 2024-11-01 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Big Tech drags down marketsMajor U.S. indexes slumped on Thursday, weighed down heavily by losses in Big Tech shares. While the company's cloud division missed revenue expectations, it's growing faster than it had in the same period last year. CNBC Pro checked in with Teng again to find out how his picks have performed, and if he has changed his mind on the stocks he's betting on.

Persons: Kevin Teng, Teng Organizations: CNBC, Big Tech, U.S, Japan's Nikkei, CSI, Apple, Amazon, P Global, PMI, Boeing, Wrise Private Singapore Locations: Asia, Pacific, Cupertino, China

☆ China’s manufacturing output swings back into expansion in October, private survey finds
▼ + stars: | 2024-11-01 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

Workers assemble at a workshop of an equipment manufacturing enterprise in Yunmenshan Street, Qingzhou city, East China's Shandong province, Aug. 9, 2023. China's factory activity swung back into expansion among smaller manufacturers in October, according to a private survey released on Friday. The Caixin/S&P Global manufacturing PMI came in at 50.3 in October, beating the median estimate of 49.7 in a Reuters poll. A PMI reading above 50 indicates expansion in activity, while a reading below that level points to contraction. This private gauge, which focuses on smaller and export-oriented firms, comes after the official PMI data, released Thursday, indicated that manufacturing activity in the country expanded for the first time since April.

Organizations: P Global, PMI Locations: Yunmenshan, Qingzhou city, East China's Shandong

☆ We maintain our rating on Ford shares after a bullish Street initiation
▼ + stars: | 2024-05-23 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. We welcome the bullish call, but maintain a 2 rating on F shares. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, chipmaker, Jim, Bernstein, Jim Cramer's Organizations: CNBC, Nasdaq, Nvidia, Treasury, P Global, PMI, Dow Jones, DuPont de Nemours, DuPont, Ford Motor Locations: U.S

☆ Hong Kong stocks are back from the dead. Here’s why
▼ + stars: | 2024-04-30 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —Hong Kong’s benchmark Hang Seng Index surged more than 7% in April as the best-performing major index in the world. The valuation of Hong Kong stocks has also become more “compelling” relative to the rest of the Asian region after the pullback last year, said Zhikai Chen, head of Asian equities at BNP Paribas Asset Management. He added that there is a shift in investors’ sentiments as Chinese economic data turned more positive. Innes said global investors are currently “underweight” in Chinese markets, including Hong Kong, because of geopolitical tensions and concerns surrounding potential fallout from the upcoming US elections. Stock exchange data showed that southbound investors (meaning investment from mainland China into Hong Kong) have bought nearly $20 billion of Hong Kong-listed stocks in March and the first three weeks of April on a net basis.

Persons: ”, Kelly Chung, Zhikai Chen, Stephen Innes, David Chao, Nomura, Xiaomei Chen, Angelina Lai, Innes, Kong, BNP Paribus Organizations: Hong Kong CNN, Hong, Value Partners, BNP, Management, P Global, PMI, Kong's, Reuters, US, People’s Bank of, HK, “ Locations: China, Hong Kong, United States, Beijing, India, James’s, People’s Bank of China

☆ The Fed will be the main event in the week ahead that includes a jobs report, more tech earnings
▼ + stars: | 2024-04-26 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

On top of that, the latest U.S. jobs market scorecard will be released along with more mega-cap earnings. This week, the U.S. 10-year Treasury yield briefly climbed above 4.7% for the first time since November. That's down sharply from the six or seven rate cuts investors were anticipating coming into the year. April jobs Investors will also get an update on the labor picture next week, with the release of the April nonfarm payrolls report set for Friday. Corporate earnings season will also ramp up in the week ahead with a slew of consumer-facing companies set to report.

Persons: Stocks, Powell, David Alcaly, Jerome Powell's, we've, they're, Brian Nick, Matt Stucky, it's, Stucky, Dow Jones, Nick, Archer, Eli Lilly, Kraft, Estee, Ingersoll Rand, Stanley Black, Decker, Hershey Organizations: Nasdaq, Google, Microsoft, Treasury, Lazard Asset Management, Macro, Northwestern Mutual Wealth Management Company, Fed, Apple, Micro Computer, Dallas Fed, Paramount, ON Semiconductor, Chicago PMI, Prudential Financial, Devices, Storage, Diamondback Energy, Caesars Entertainment, Corning, Daniels, Midland, Molson Coors Beverage, Marathon Petroleum, GE Healthcare Technologies, PayPal, ADP, P Global, Manufacturing, Oil, MGM Resorts International, Allstate, Etsy, eBay, Qualcomm, MetLife, First, Devon Energy, Cruise Line Holdings, Brands, Marriott International, Kraft Heinz, Pfizer, Companies, CVS Health, Generac, Mastercard, Labor, Nation Entertainment, Booking Holdings, Natural Resources, Motorola Solutions, Expedia, EOG, Coterra Energy, Dominion Energy, Howmet Aerospace, ConocoPhillips, Moderna, PMI, Services PMI Locations: U.S, Chicago, McDonald's, Albemarle, EOG Resources

☆ China’s new factory data shows a bright start to the year
▼ + stars: | 2024-04-01 | by ( ) edition.cnn.com time to read: +2 min

The Caixin/S&P Global manufacturing PMI rose to 51.1 in March from 50.9 the previous month, above analysts’ forecasts of 51.0 and marking an expansion for the fifth consecutive month. The upbeat results followed recent better-than-expected export and retail sales data, suggesting a bright start to the year for the world’s second-biggest economy. Official factory data published on Sunday also entered positive territory, offering relief to policymakers even as a crisis in the property sector remains a drag on the economy and confidence. The official purchasing managers’ index (PMI) rose to 50.8 in March from 49.1 in February, expanding for the first time in six months. But analysts say policymakers will need to roll out more stimulus to hit that target as they will not be able to count on the weak statistical base of 2022 which flattered 2023 growth data.

Persons: Li Qiang, ”, Wang Zhe, Wang Organizations: P Global, PMI, Sunday, Citi, Caixin Insight Locations: Beijing

☆ Caixin survey shows China's factory activity expanded for a third month in January, extending divergence with official data
▼ + stars: | 2024-02-01 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

Johannes Neudecker | Picture Alliance | Getty ImagesChina's factory activity expanded for a third-straight month in January, a private-sector survey showed on Thursday, helped by the first expansion in new export orders in seven months. Thursday's print though, extended a divergence from official data that points to the patchy growth in the world's second-largest economy and underscores the need for policy support. China's National Bureau of Statistics released data Wednesday that showed the country's official manufacturing PMI coming in at 49.2 in January, a fourth consecutive monthly contraction — compared with 49 in December. The Caixin manufacturing PMI surveys around 650 private and state-owned manufacturers that tend to be more export-oriented and located in China's coastal regions, while the official PMI surveys 3,200 companies across China. Employment in China's manufacturing sector trended down in the official survey released Wednesday as in the Caixin survey.

Persons: Johannes Neudecker, Wang Zhe, Wang Organizations: Getty, P Global, National Bureau of Statistics, Overseas, Caixin Insight Locations: China

☆ Asia factory activity weakens, uncertainty on China clouds outlook
▼ + stars: | 2023-12-01 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

An employee works on a production line manufacturing steel structures at a factory in Huzhou, Zhejiang province, China May 17, 2020. The data shows that factories are producing less and hiring fewer people," Dan Wang, chief economist at Hang Seng Bank China, said of China's PMI readings, which have different samples. Export-reliant Japan, South Korea and Taiwan bore the brunt of sluggish global demand with their manufacturing activity remaining stagnant in November, surveys showed. Japan's final au Jibun Bank manufacturing PMI fell to 48.3 in November from 48.7 in October, shrinking at the fastest pace in nine months. Manufacturing activity also shrank in Taiwan, Vietnam and Malaysia, but expanded in Indonesia and the Philippines, the surveys showed.

Persons: Dan Wang, Toru Nishihama, Leika Kihara, Jamie Freed Organizations: REUTERS, PMI, Korea Soft, P Global, Hang Seng Bank, Dai, Research, Jibun Bank, Research Institute, Thomson Locations: Huzhou, Zhejiang province, China, Japan, S, TOKYO, Europe, United States, Hang Seng Bank China, South Korea, Taiwan, Asia, Vietnam, Malaysia, Indonesia, Philippines

☆ Morning Bid: Powell's final shot to shape markets before December Fed meeting
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +3 min

A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. Markets are now fully pricing a rate cut by the May meeting with almost a 50% chance they move in March, according to the CME's FedWatch tool. Reuters GraphicsThe 10-year yield is down around 15 basis points and on Thursday hit its lowest level in 2-1/2 months at 4.247%. On Wednesday, the dollar index , which measures the currency against six major peers, touched its lowest level since Aug. 11 and dropped over 3% last month, its worst month in a year. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Samuel Indyk, Jerome Powell's, Powell, Christopher Waller, Europe's, Fed's, Fed's Cook, ECB's, Fitch, Toby Chopra Organizations: Wall, REUTERS, Federal, Fed, Spelman College, Reuters, COVID, P Global, PMI, Thomson Locations: New York, U.S, France, Greece, Ireland, DBRS, Germany, Spain

BEIJING, Dec 1 (Reuters) - Mixed factory activity data for China in November suggests more stimulus will be needed to shore up economic growth, analysts said on Friday, as two surveys came to contrasting conclusions on the sector's health. That was the fastest expansion in three months, but stands in contrast to the official PMI which fell to 49.4 on Thursday. "At face value, the average of the two is consistent with factory activity remaining largely unchanged last month," said Sheana Yue, China economist at Capital Economics. The official and Caixin surveys have different samples, with the Caixin PMI focusing on export-oriented enterprises and small- and medium-sized enterprises in the country's coastal region. Payroll cuts in the sector persisted for the third month in the Caixin survey and a ninth month in the official PMI.

Persons: Sheana Yue, Dan Wang, Xi Jinping, Liangping Gao, Joe Cash, Jacqueline Wong, Lincoln Organizations: P Global, PMI, Capital Economics, HSBC, Hang Seng Bank, Thomson Locations: BEIJING, China, Hang Seng Bank China, Shanghai

☆ World economy to perform better than expected in 2024, says Goldman Sachs
▼ + stars: | 2023-11-14 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +3 min

The U.S. is expected to outpace other developed markets again with estimated growth of 2.1%, Goldman said. Goldman noted global manufacturing activity has been weighed down by a weaker-than-expected rebound in Chinese manufacturing and the European energy crisis, as well as an inventory cycle that had to correct for overbuilding last year. S&P Global's gauge of worldwide manufacturing activity came in at 49.1 in September. Additionally, China's Caixin/S&P Global manufacturing PMI fell to 49.5 in October from 50.6 in September, marking the first contraction since July. Manufacturing activity should recover somewhat in 2024 from a subdued 2023 pace, Goldman economists led by chief economist Jan Hatzius said, especially as "spending patterns normalize, gas-intensive European production finds a trough, and inventories-to-GDP ratios stabilize."

Persons: Goldman Sachs, Goldman, Jerome Powell, Jan Hatzius, China's Organizations: Bloomberg, U.S . Federal Reserve, Global, Goldman Sachs, P Global, PMI Locations: York, U.S, Japan

☆ Asia's factories squeezed as China's nascent recovery teeters
▼ + stars: | 2023-11-01 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

Purchasing managers' indexes (PMIs) for factory powerhouses China, Japan and South Korea showed activity shrinking while Vietnam and Malaysia also struggled with the broadening fallout from a Chinese slowdown. "Overall, manufacturers were not in high spirits in October," said Wang Zhe, an economist at Caixin Insight Group, on China's survey outcome. Japan's factory activity shrank for a fifth straight month in October, the final au Jibun Bank PMI showed. South Korea's factory activity fell for the 16th straight month while PMIs from Taiwan, Vietnam and Malaysia also showed continued declines in activity. The International Monetary Fund (IMF) has warned that China's weak recovery and the risk of a more protracted property crisis could further dent Asia's economic prospects.

Persons: Stringer, Wang Zhe, Leika Kihara, Sam Holmes Organizations: REUTERS, PMI, P Global, Caixin Insight, Jibun, Murata Manufacturing, Monetary Fund, IMF, Thomson Locations: Zouping, Shandong province, China, Japan, South Korea, TOKYO, Vietnam, Malaysia, PMIs, Taiwan, Asia

☆ China October factory surveys disappoint, weigh on Q4 momentum
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +4 min

The Caixin/S&P Global manufacturing PMI fell to 49.5 in October from 50.6 in September, marking the first contraction since July and missing analysts' forecasts of 50.8 by a large margin. A slowdown in Chinese manufacturing will also soften China's imports. Following the release of the gloomy data, China shares (.SSEC) eased 0.15%, while Hong Kong's Hang Seng Index (.HSI) fell 0.75%. PMI surveys track business conditions and offer the first monthly snapshot of China's economic performance. New export orders for Chinese manufactured goods have shrunk for four consecutive months amid a relatively sluggish global economic climate.

Persons: China's, Hong, HSI, Bruce Pang, Jones Lang Lasalle, Goldman Sachs, Ellen Zhang, Ryan Woo, Kim Coghill, Lincoln Organizations: P Global, PMI, Manufacturers, London Metal Exchange, Jones, Goldman, Thomson Locations: BEIJING, Japan, South Korea, China, Guangzhou

☆ Asia-Pacific stocks mixed as China's factory activity expands for the first time in six months
▼ + stars: | 2023-10-02 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

China's factory activity in September expanded for the first time April, data from the National Bureau of Statistics showed on Saturday. China's PMI climbed to 50.2 in September from 49.7 in the previous month, beating Reuters' expectations of 50.0. China's non-manufacturing PMI also inched up to 51.7 from a previous reading of 51. Similarly, a private-sector survey reflected an expansion in China's factory activity, albeit at a slowed pace. The Caixin/S&P Global manufacturing PMI dipped to 50.6 in September from 51.0., the survey showed on Sunday, missing forecasts of 51.2.

Persons: — Lee Ying Shan Organizations: National Bureau, Statistics, PMI, Reuters, P Global Locations: China

☆ China's factory activity recovery slows in September - Caixin PMI
▼ + stars: | 2023-10-01 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Oct 1 (Reuters) - China's factory activity expanded at a slower pace in September, a private-sector survey showed on Sunday, with sluggish external demand weighing on the outlook even as output increased. The Caixin/S&P Global manufacturing purchasing managers' index (PMI) fell to 50.6 in September from 51.0 in the previous month, missing analysts' forecasts of 51.2. According to the Caixin PMI, factory output and new orders remained in expansionary territory in September, however, external demand remained weak with export orders index contracting for the third month. Producers of consumer, investment and intermediate goods all cut staff, the survey showed. A separate PMI released by Caixin/S&P Global on Sunday showed China's services activity expanded at the slowest pace this year in September.

Persons: Wang Zhe, Wang, Liangping Gao, Ryan Woo, Sam Holmes Organizations: P Global, PMI, Caixin Insight Group . Factory, Producers, Global, Thomson Locations: BEIJING, China

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. "The prospect of rates staying higher for longer has given investors a lingering headache," said Russ Mould, investment director at AJ Bell. "Many had hoped we would approach the end of 2023 with a clearer picture on when rates will start to be cut." ET, Dow e-minis were up 36 points, or 0.1%, S&P 500 e-minis were up 11 points, or 0.25%, and Nasdaq 100 e-minis were up 68.5 points, or 0.46%. Wayfair (W.N) rose 2.6% after Bernstein upgraded the online furniture retailer to "market perform" from "underperform", citing improving revenue growth and margins.

Persons: Brendan McDermid, dampening, Russ Mould, AJ Bell, Neel Kashkari, Lisa Cook, Li Auto, Alibaba, Bernstein, Ankika Biswas, Shristi, Anil D'Silva, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Activision, Microsoft, Dow, Nasdaq, U.S, Treasury, Apple, Nvidia, P Global, PMI, Minneapolis, Detroit, Dow e, PDD Holdings, Baidu, Hong, Thomson Locations: New York City, U.S, Hong Kong, Bengaluru

☆ Asia's factory activity weakens, China's rebound offers some hope
▼ + stars: | 2023-09-01 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

While the rebound in China's factory conditions say be a sign official efforts to revive growth is starting to have some effect, manufacturing activity in most of Asia remained stagnant in August. "It's unlikely we'll see a sharp, quick rebound in China's economy. Asia has been among the few bright spots in the global economy, though persistent weakness in China cloud the outlook. It expects China's economy to expand 5.2% this year after a 3.0% increase in 2022. Factory activity also contracted in Taiwan, Malaysia and the Philippines last month, with Indonesia the outlier with a modest expansion, surveys showed.

Persons: Siyi Liu, Toru Nishihama, Leika, Shri Navaratnam Organizations: REUTERS, PMI, P Global, Dai, Research, International Monetary Fund, Jibun Bank, Thomson Locations: Dezhou, Shandong province, China, Japan, Korea, TOKYO, Asia, South Korea, Taiwan, Malaysia, Philippines, Indonesia

☆ China's Aug factory activity picks up unexpectedly - Caixin PMI
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +3 min

A worker wearing a face mask works on a production line manufacturing glassware products at a factory in Haian, Jiangsu province, China February 29, 2020. The Caixin/S&P Global manufacturing purchasing managers' index (PMI) rose to 51.0 in August from 49.2 in July, beating analysts' forecasts of 49.3 and marking the highest reading since February. The data, a snapshot of the sprawling manufacturing economy, surprised to the upside but offered a mixed picture of the sector, a day after an official survey showed manufacturing activity contracted for a fifth straight month. The Caixin manufacturing PMI surveys around 650 private and state-owned manufacturers and focuses more on export-oriented firms in coastal regions, while the official PMI surveys 3,200 companies across China. Manufacturers reported increases in both output and total order intakes thanks to firmer market demand, the Caixin survey showed.

Persons: Wang Zhe, Wang, Ellen Zhang, Ryan Woo, Sam Holmes Organizations: REUTERS, Rights, P Global, Analysts, Manufacturers, Caixin Insight, Thomson Locations: Haian, Jiangsu province, China, Rights BEIJING

While an ISM survey offered a tough assessment of U.S. manufacturing conditions, so-called hard data suggest the sector is shuffling along. Federal Reserve data in June showed factory production rebounded in the second quarter, ending two straight quarterly declines. Meanwhile, U.S. construction spending increased solidly last month and May's data was revised higher, boosted by outlays in both single and multifamily housing projects, the Commerce Department said. China's Caixin/S&P Global manufacturing purchasing managers' index (PMI) missed analysts forecasts and showed the first decline in activity since April. Money markets now see a 60% probability that the Bank of England will hike rates by 25 basis points on Thursday.

Persons: Dado Ruvic, Steven Ricchiuto, Carlos Casanova, Kit Juckes, Sterling, Herbert Lash, Joice Alves, Ankur Banerjee, Alex Richardson, Hugh Lawson, Alexander Smith Organizations: REUTERS, Reuters, Federal, outlays, Commerce Department, Labor, Survey, Labor Department, Mizuho Securities USA, Reserve Bank of Australia, Bank of Japan, U.S, Natixis Investment, P Global, European Central Bank, ECB, Societe Generale, Bank of, Thomson Locations: Asia, Hong Kong, U.S, Bank of England, London, Singapore

☆ Aussie set for biggest one-day drop since March, yen at 3-week low
▼ + stars: | 2023-08-01 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

The Aussie fell 1.4% to $0.6626, wiping out the 0.87% gains it clocked in July and set for its sharpest daily drop since March. "I think it was right that the RBA held today, given trimmed mean inflation and unemployment matched the RBA's forecasts. China's Caixin/S&P Global manufacturing purchasing managers' index (PMI) missed analysts forecasts and showed the first decline in activity since April. The euro eased 0.2% to $1.0975, not too far from an almost three-week low touched on Friday. Money markets now see a 60% probability that the Bank of England will hike rates by 25 basis points on Thursday.

Persons: David Gray, Matt Simpson, Carlos Casanova, Kit Juckes, Sterling, Joice Alves, Ankur Banerjee, Alex Richardson, Hugh Lawson Organizations: REUTERS, Australian, Reserve Bank of Australia, Bank of Japan's, City, Federal, P Global, European Central Bank, ECB, Societe Generale, Bank of, Thomson Locations: Sydney, Australia, China, Asia, Hong Kong, U.S, Bank of England, London, Singapore

☆ China's July factory activity swings back to contraction - Caixin PMI
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +3 min

BEIJING, Aug 1 (Reuters) - China's factory activity swung to contraction in July, a private sector survey showed on Tuesday, with supply, demand and export orders all deteriorating as firms blamed sluggish market conditions at home and abroad. The Caixin survey showed manufacturing output shrank for the first time in six months while new orders saw the quickest reduction since December. New orders remained unchanged at makers of investment goods, but fell at producers of consumer and intermediate goods. Employment across the manufacturing sector fell for the fifth straight month in July, although the pace of job shedding eased from June. But Wang Zhe, senior economist at Caixin Insight Group, said current monetary settings would only have a limited effect on boosting supply.

Persons: Wang Zhe, Ellen Zhang, Ryan Woo, Sam Holmes Organizations: P Global, PMI, Caixin Insight, Thomson Locations: BEIJING, Beijing, Shenzhen

☆ China's July factory activity swings back to contraction, Caixin PMI shows
▼ + stars: | 2023-08-01 | by ( ) www.cnbc.com time to read: +1 min

China's factory activity swung to contraction in July, a private sector survey showed on Tuesday, with supply, demand and export orders all deteriorating as firms blamed sluggish market conditions at home and abroad. The Caixin/S&P Global manufacturing purchasing managers' index, or PMI, fell to 49.2 in July from 50.5 in June, missing analysts' forecasts of 50.3 and marking the first decline in activity since April. The Caixin survey showed manufacturing output shrank for the first time in six months while new orders saw the quickest reduction since December. New orders remained unchanged at makers of investment goods, but fell at producers of consumer and intermediate goods. Employment across the manufacturing sector fell for the fifth straight month in July, although the pace of job shedding eased from June.

Organizations: P Global, PMI Locations: Shanghai, Lujiazui, China

☆ Asia's factory activity shrinks as China's slump, global slowdown weigh
▼ + stars: | 2023-08-01 | by ( Leika Kihara | ) www.reuters.com time to read: +2 min

Japan, South Korea, Taiwan and Vietnam saw manufacturing activity contract in July, the surveys showed, highlighting the strain sluggish Chinese demand is inflicting on the region. China's Caixin/S&P Global manufacturing purchasing managers' index (PMI) fell to 49.2 in July from 50.5 in June, missing analysts' forecasts of 50.3 and marking the first decline in activity since April. "Falling new orders, bleak employment prospects and high inventory levels point to subdued factory activity in the coming months." Japan's final au Jibun Bank PMI fell to 49.6 in July, down from 49.8 in June, due to weak domestic and overseas demand. In India, growth in manufacturing activity slowed for a second month, but the pace of expansion remained healthy and beat expectations.

Persons: forestalling, PMIs, Shivaan Tandon, Leika Kihara, Sonali Paul Organizations: PMI, TOKYO, P Global, Emerging, Capital Economics, Jibun, International Monetary Fund, Thomson Locations: Japan, South Korea, Asia, Taiwan, Vietnam, Emerging Asia, India

☆ China is still waiting for a 'big bang' economic fix as Beijing grapples with more bad news
▼ + stars: | 2023-08-01 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

China's manufacturing sector contracted in July, multiple indexes showed. Policymakers have hinted at an economic boost – but are yet to roll out a stimulus package. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. The country's top decision-making body acknowledged that the economy faced "new difficulties and challenges" last week – and pledged to roll out a stimulus package "with precision and force". The Swiss bank predicted policymakers would hint at but fall short of bringing in the "big bang" stimulus package needed to revive growth.

Persons: –, Beijing's, Julian Evans, Pritchard Organizations: Service, Privacy, China, P Global Manufacturing, UBS, Economics Locations: Beijing, Wall, Silicon, Swiss, China

☆ Wall Street rides high into next week as traders brace for a major Fed decision and key earnings
▼ + stars: | 2023-07-21 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

The recent streak of gains in markets could be in jeopardy next week as traders come up against a big Federal Reserve meeting and earnings shift into high gear. However, markets are ramping up just ahead of several catalysts next week that could roil markets. According to the CME FedWatch Tool, 83% of traders expect monetary policymakers will be done at that point. 'Floodgate' of earnings season including tech The biggest week for earnings season is also up ahead, with results having been mixed thus far. Personal Consumption Expenditure index (June) 10 a.m.: Consumer sentiment (July final) Earnings: Exxon Mobil , Chevron , Procter & Gamble , T. Rowe Price

Persons: Jerome Powell, Hogan, Powell, Shannon Saccocia, Jackson, Yung, Yu Ma, that's, Saccocia, Northrop Grumman, Rowe Price Organizations: Reserve, Dow Jones, Riley Wealth Management, BMO Wealth Management, Big Tech, Microsoft, Chicago, P Global, PMI, GE, GE HealthCare, GM, Boeing, Hess, ADP, CME Group, eBay, Honeywell, Hershey, McDonald's, Mastercard, Northrop, Royal, Enphase Energy, Mobile, Ford Motor, Intel, Mondelez, Exxon Mobil, Chevron, Procter, Gamble Locations: Royal Caribbean

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