FIDU News and Press, Fidelity MSCI Industrials Index From 02/08/24

2024-02-08 09:48:00 ET Summary The ISM manufacturing survey has been below 50 for 15 months in a row and sits today at 49.1. This survey, along with a lot of other manufacturing data and anecdotes, has been cited repeatedly by the economic bears as evidence we are heading for rece...

2024-02-06 07:05:00 ET Summary The US economy is ok - credit spreads are still quite low, liquidity is still abundant, the dollar is still strong, inflation is still declining, and there are only a few indicators that suggest caution. Owning short-term risk-free assets today has b...

2024-02-02 23:22:00 ET Summary Despite the supply concerns, manufacturers are looking to stronger demand and a shift in the inventory cycle to boost growth in 2024. Average supplier delivery times lengthened worldwide in January for the first time in a year, with companies often l...

2024-02-02 07:27:00 ET Summary The US data continues to refuse to convincingly break one way or another. This will leave members of the Federal Reserve unconvinced there is enough evidence to justify cutting interest rates as soon as March. The US manufacturing ISM index was stron...

2024-01-31 01:00:00 ET Summary During 2023, the higher rate environment was a source of competition for the equity income category. Higher rates and how it impacts companies really depends on how well-run the company is at the end of the day. If rates stay higher for longer, I...

2024-01-29 19:40:00 ET Summary Today's data slate was light with the only release of note being the Dallas Fed's monthly manufacturing survey. The results were disappointing to say the least, as the headline number came in at -27.4, more than twice as low as expectations of -11.8....

2024-01-25 23:45:00 ET Summary The early PMI data for January signalled a marked cooling of inflation pressures in the US economy, in turn linked to a waning of elevated price growth in the services economy. The latest price data from the PMI point to inflation falling below the F...

2024-01-22 15:40:00 ET Summary The General Business Conditions index fell to -43.7, a depth only exceeded by the -78.2 reading in April of 2020 with the economy shut down for COVID. New orders (-49.4 vs -11.3) and shipments (-31.3 vs -6.4) also posted sharp declines and unfilled o...

2024-01-20 21:06:00 ET Summary Our belief is that there will primarily be one call to get correct - one call to rule them all - and that is whether the US economy has a hard landing (recession) or a soft one. Every hard landing starts out as a soft landing, marked by the Fed's int...

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...