US stocks have started the cash session in upbeat moods following an indecisive European session, and are on track to recover some of Friday’s losses. The US ISM rebounded quite strongly to 50.9 from 47.8 points in December (revised up from originally reported 47.2 points) on new orders and higher prices. That’s a good sign for sure, but obviously this improvement doesn’t factor in any impact of the virus. The mood can be volatile depending on new information arriving from China.
The US manufacturing improved in January. Services data will be published on Wednesday. Source: Macrobond, XTB Research
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