Stronger-than-expected US jobs data boost stock markets – business live
- October best month for sterling since financial crisis
- Shares rise across Europe and Asia after surprisingly strong China PMI
2.49pm GMT
However, US stocks are unfazed by the ISM manufacturing survey. Traders have been cheered by the stronger-than-expected US jobs data. Earlier, a surprise bounce in China’s manufacturing sector sent stocks higher across Asia and Europe. Here are the latest moves.
2.42pm GMT
James Knightley, chief international economist at ING, says the ISM survey suggests
the US manufacturing sector is in recession due to weak global growth, trade tensions and a strong dollar. There is little reason to expect an imminent turnaround with more support from the Federal Reserve likely needed.
US manufacturing is still struggling.
The ISM manufacturing index came in at 48.3 for October. Any read under 50 indicates the industry is CONTRACTING. This is the 3rd straight month below 50.https://t.co/VkS3aUxRv5 #economy
Continue reading…October best month for sterling since financial crisisShares rise across Europe and Asia after surprisingly strong China PMI 2.49pm GMTHowever, US stocks are unfazed by the ISM manufacturing survey. Traders have been cheered by the stronger-than-expected US jobs data. Earlier, a surprise bounce in China’s manufacturing sector sent stocks higher across Asia and Europe. Here are the latest moves. 2.42pm GMTJames Knightley, chief international economist at ING, says the ISM survey suggests the US manufacturing sector is in recession due to weak global growth, trade tensions and a strong dollar. There is little reason to expect an imminent turnaround with more support from the Federal Reserve likely needed.US manufacturing is still struggling.The ISM manufacturing index came in at 48.3 for October. Any read under 50 indicates the industry is CONTRACTING. This is the 3rd straight month below 50.https://t.co/VkS3aUxRv5 #economy Continue reading…
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