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With most traders back at their desks after the holidays, there’s a host of key economic data coming out of the US on the last day of the trading week.
Chief among them is what looks like will be a less than stellar performance by US manufacturing, with the release of ISM Manufacturing PMI. Despite the stock market hitting record highs recently, the manufacturing sector doesn’t seem to be as optimistic.
We should note that the survey was conducted through the time in which the Phase 1 US-China trade deal was announced.
Although it was widely expected, the formal release might have had an effect on the projections from corporate executives. The result could come in significantly above market expectations. And this could be adjusted following the Markit PMI survey scheduled to be released later today.
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