14:45 GMT - United States - PMI report:
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S&P Composite PMI Flash Actual 52 (Forecast 50.6, Previous 50.3)
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S&P Manufacturing PMI Flash Actual 54 (Forecast 52.5, Previous 52.3)
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S&P Services PMI Flash Actual 51.3 (Forecast 50.6, Previous 49.8)
April’s preliminary US PMIs supprised on the upside, with manufacturing, services and the composite index all beating expectations. While this signals robust economic momentum despite geopolitical stress, the underlying details are more nuanced: employment edged up to 50.2, but new orders actually softened slightly to 50.9. The real sting lies in the pricing data, where input prices jumped to 62.6 and output prices hit 59.9—their highest level since July 2022.
Although these inflationary signals make the report less "market-friendly" than the headlines imply, US stocks ticked slightly up, shaking off early pressure from Brent crude prices crossing the 100 USD mark. S&P 500 futures reversed early losses and climbed higher immediately following the report, curently settling at yesterday's close.
Source: xStation5
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