January 24, 2020 Headlines

Headlines overnight remain focused on the coronavirus outbreak in China. Government officials boosted travel restrictions to cover 10 cities and 40 million people as the number of deaths related to the virus continues to climb. Despite the concerns, stock markets in Europe (SXXP +1.2%) and the US (S&P500 +.19%) pushed higher. The Purchasing Managers’ Index (PMI), a survey of supply chain managers, showed Eurozone manufacturing improving to a 5-month high of 47.8 and beating consensus expectations. The service industry disappointed contracting to 52.2. Later this morning, the market will receive the US PMI reading which is expected to show growth in both the manufacturing and service industries.

Chris Eckhoff
Associate, Investment Management Group

Date Event Survey Actual Prior Revised
1/24/2020 Markit US Manufacturing PMI 52.5 51.7 52.4
1/24/2020 Markit US Services PMI 53 53.2 52.8
1/24/2020 Markit US Composite PMI 53.1 52.7


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