Stocks steady after eurozone PMI data

Stocks steady after eurozone PMI data

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Eurozone Composite PMI for August from IHS Markit has just been released. The index came it at 59.0 and comment from Joe Hayes, Senior Economist at IHS Markit, read “It was another solid result for euro area businesses in August, according to the PMI numbers, which still point to rapid rates of expansion in output and demand”.
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Final PMIs for UK and US due later.

Markets waiting for the big event of the week, the US nonfarm payrolls for August, which could have an influence on when the Fed’s policymaking decisions. Strong job growth could bring forward the date the central bank will begin reducing its bond buying report while a weak report could add further fuel top the rally in stocks.

 

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