Global growth is in the air as investors seized on reports from Asia, Europe and the U.S. to bid markets higher. In Asia the Chinese PMI (Purchasing Managers Index) rose sharply from 52 to 55. Manufacturing data was also strong in Taiwan, South Korea and Australia. A survey of 3000 euro-zone firms also showed increases in data as the fastest in over three years.
Jobless Claims in the U.S. were about as expected or “crummy” but unemployment isn’t an issue for bulls it seems. Neither evidently is current construction spending which was below estimates. But, bulls seized on....READ MORE!
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