Headline PMI: 50.1 (↓ 0.7) – minimal expansion
Imports: 45.9 (↓ 5.8) – into contraction
Other Components:
New Orders: 50.3 (↓ 1.0)
Supplier Deliveries: 51.0 (↑ 0.7)
Prices: 69.9 (↑ 2.4) – cost pressures rising
Inventory Sentiment: 53.2 (↓ 3.9)
Stocks gave up gains and moved into negative territory. Yield moved lower in the long end, but moved higher in the short end as the yield curve flattened.
He criticized survey data as outdated and politically driven, claiming employment numbers were rigged before the election (he still insists they were revised after the election when they were not) - and more recent numbers were also rigged - and accused Fed Chair Powell of being highly political. He praised Kevin Warsh and “the two Kevins (Hassett and Warsh)” as strong candidates for Fed roles, while removing Bessent - at his request - from consideration for Fed Governor. Trump said prices have fallen sharply since he became President with gas down to $2.40 a gallon ( stocks are higher, and energy costs—particularly gasoline—are down to $2.40 (the average is actually $3.17), attributing this partly to OPEC+ increasing production ("they want to please me"). He asserted that lower energy prices would deter Putin’s aggression. He noted Japan, Indonesia, Vietnam, and Korea have opened up their economies to the US, calling Japan’s commitments a “signing bonus.”
On China, he said Xi requested a meeting (he hates when people say he requested the meeting) and a trade deal could come by year-end, stressing that China respects his administration unlike Biden’s.
The USD was mixed/little changed today.
Dow industrial average -61.91 points or 0.14% at 44111.74S&P index fell -30.75 points or -0.49% at 6299.19NASDAQ index fell -137.03 points or -0.65% at 20916.55.
Looking at the US debt market
2-year yield 3.724%, +4.3 basis points5-year yield 3.776%, +3.4 basis points10 year yield 4.208%, +1.0 basis points30 year yield 4.777%, _1.8 basis points This article was written by Greg Michalowski at investinglive.com.Hence then, the article about investinglive americas fx news wrap 5 aug ism non manufacturing not immune from weakness was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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