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According to the Financial Times, US shale oil industry executives have warned that they cannot fill the gap in Middle Eastern oil supplies disrupted by war.On March 4th, Huo Lihui, Chief Statistician of the Service Industry Survey Center of the National Bureau of Statistics, interpreted the China Purchasing Managers Index (PMI) for February 2026. Business expectations are positive. The production and operation activity expectation index was 53.2%, up 0.6 percentage points from the previous month, indicating that manufacturing enterprises have strengthened their confidence in market development after the Spring Festival. By industry, the production and operation activity expectation indices for general equipment, railway, shipbuilding, and aerospace equipment are all above 56.0%, indicating a relatively high level of prosperity, with related enterprises being more optimistic about the near-term development of their industries.March 4th - Data from the National Bureau of Statistics shows that the new orders index for the non-manufacturing sector in February was 45.2%, down 0.9 percentage points from the previous month, indicating a slight decline in market demand in the non-manufacturing sector. By sector, the new orders index for the construction industry was 42.2%, up 2.1 percentage points from the previous month; the new orders index for the service industry was 45.7%, down 1.4 percentage points from the previous month. The input price index was 50.9%, up 0.9 percentage points from the previous month, indicating that the overall price level of inputs used by non-manufacturing enterprises for operating activities has increased. By sector, the input price index for the construction industry was 49.1%, down 2.9 percentage points from the previous month; the input price index for the service industry was 51.2%, up 1.5 percentage points from the previous month.March 4th - Data from the National Bureau of Statistics shows that, by sector, the business activity index for the construction industry was 48.2%, down 0.6 percentage points from the previous month; while the business activity index for the service industry was 49.7%, up 0.2 percentage points from the previous month. Within the service sector, the business activity indices for accommodation, catering, and culture, sports, and entertainment were all above 60.0%, indicating a high level of prosperity; while the business activity indices for capital market services and real estate were below the critical point.March 4th - According to data from the National Bureau of Statistics, in terms of enterprise size, the PMI for large manufacturing enterprises in February was 51.5%, up 1.2 percentage points from the previous month and above the critical point; the PMIs for medium and small enterprises were 47.5% and 44.8% respectively, down 1.2 and 2.6 percentage points from the previous month and below the critical point. Looking at the sub-indices, among the five sub-indices that constitute the manufacturing PMI, the production index, new orders index, raw material inventory index, employment index, and supplier delivery time index were all below the critical point.

S&P 500 Gains 0.4%, Hits Fresh Three-month Highs Above 4,300 Despite China Growth Worries

Skylar Shaw

Aug 16, 2022 14:58

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Despite concerns about China's growth, indices rise

Major US equity indexes were protected from worries about the future for global economic growth on Monday in the aftermath of dismal July economic activity statistics out of China during the overnight session by a decline in US treasury rates, which boosted rate-sensitive large tech/growth firms. The People's Bank of China, the country's central bank, unexpectedly slashed interest rates to relieve financial conditions in response to the negative economic indicators for China.


A slowdown in China's growth might help quell the inflationary pressures that have compelled the Fed to tighten monetary policy aggressively this year. It could also result in a slowdown in US growth that could discourage future major tightening. Analysts said that recent data that 1) revealed that US pricing pressures had now peaked and 2) indicated that the US economy was still expanding in early Q3 as well as 3) recent better-than-expected company results were all encouraging for stock prices for US equities.


The S&P 500 finished the trading day on Monday up around 0.4%, crossing the 4,300 mark for the first time since May 4 and bringing its run of gains from the lows in the low 3,700s in July to almost 15%. The Dow Jones Industrial Average increased by 0.45% to reach its 200-Day Moving Average for the first time since April 21. The Nasdaq 100 index increased by 0.75% to reach its highest level since late-April in the 13,600s.

Investors Prepare for Heavyweight Retailor Earnings and US Retail Sales Data

Energy, one of the eleven S&P 500 GICS sectors, had the poorest performance, dropping 2.0% after a steep decline in oil prices due to worries about China's consumption. Other than the materials industry, industrial metals prices saw a significant decline. The consumer staples (+1.05%), consumer discretionary (+0.6%), and information technology (+0.6%) sectors outperformed all other sectors in terms of growth. Tesla was the top-performing large-cap stock, gaining 3.1%.


The retail industry will be in the spotlight this week due to 1) the publication of the US Retail Sales numbers for July on Wednesday and 2) the profits from industry giants including Walmart, Target, and Home Depot. Along with a number of other tier 2 data releases this week, including the regional PMIs for August, which will provide an early indication of how the US economy is doing this month, the minutes from the Fed's July policy meeting are also scheduled to be released on Wednesday.

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