Industrial production beats estimates, rising from a year earlier the most since September 2022, as manufacturing rebounds from August’s dip and utility output jumps to a record high led by electricity.
Final September PMI was revised down to 55.9 from 57.0 flash, but it’s still the 14th month of expansion as new orders were second strongest since 2022 and employment jumped to a 5-year high.
ISM Manufacturing Index indicates expansion for ninth month — longest since 2022 — but prices paid jump 6.8 points to the highest since May.
ADP’s gauge of private payrolls beat expectations on a rebound in goods producers.
Takeaways support our decision to exit the shares of Builders FirstSource.
It has been a scary summer of moves in either direction for Asia’s chip sector and the reaction to Nvidia’s guidance may come as a shock.
After adding our two newest positions, let’s discuss some key data we’ll be following.
Tech-stock gains have pushed TSMC, Samsung and Hynix into the $1 trillion club, while SoftBank is the largest Tokyo listing by market cap.
Input and output price pressures climb in May, while job creation declines. That’s not a good mix.
