FIDU News and Press, Fidelity MSCI Industrials Index From 01/18/24

2024-01-18 07:13:00 ET Summary The core PCE in the past six months is running at a slower 1.9% annual pace, so the Fed’s 2% inflation target is within sight. Deflation is unquestionably enveloping the Chinese economy, and this deflation is being exported around the world, i...

2024-01-17 14:45:00 ET Summary The sharp drop in the New York Federal Reserve’s Empire State business conditions index in January triggered a wave of warnings. The NY Fed Manufacturing Index, as it’s popularly known, is prized as an early read each month on the manuf...

2024-01-17 11:12:00 ET Summary The jobs market is tight, inflation is above target, consumer spending is holding up and recent Fed commentary suggests they are in no hurry to loosen policy. As such, we continue to favour May as the start point for interest rate cuts rather than Ma...

2024-01-16 21:20:00 ET Summary January US Empire Manufacturing reading this morning was -43.7, much worse than the -5 estimated and much weaker than during the 2008 financial crisis/great recession. The analyst consensus is for S&P earnings per share growth of more than 10 per...

2024-01-16 17:16:00 ET Summary The NY Fed's Empire State Manufacturing Survey came in catastrophically worse than forecasted, with the headline reading at its lowest level since the spring of 2020. New Orders and Shipments which were the key drivers of weakness this month. New...

2024-01-08 22:35:00 ET Summary Many months ago it became abundantly clear that the Fed had extinguished the inflation fires that were stoked in 2020-21, and therefore lower interest rates were called for. More recently, we see that the economy has lost a lot of its forward momentu...

2024-01-06 03:10:00 ET Summary The PMI signaling an acceleration of growth in the vast services economy, which reported its largest rise in activity for five months in December. The improvement overshadows a downturn recorded in manufacturing to indicate that the overall pace of U...

2024-01-03 15:30:00 ET Summary The ISM manufacturing data suggests the sector continues to contract while job opening numbers point to a slower pace of hiring. Friday's jobs report will be key this week, though, with the composition of jobs growth almost as important as the payrol...

2024-01-03 10:15:00 ET Summary US manufacturers ended the year on a sour note, according to S&P Global's PMI survey. Output fell at the fastest rate for six months as the recent order book decline intensified. Backlogs of work fell sharply in December, hinting at the developme...

2024-01-03 05:14:00 ET Summary Global manufacturing remained firmly in the doldrums in December, according to the latest JPMorgan Global Manufacturing Purchasing Managers' Index compiled by S&P Global. Global manufacturing output fell for a seventh month running in December, a...