- Economic Data
- Sunday: Chinese HSBC Flash Manufacturing PMI beat @ 50.8 vs. the forecast of 49.7. Shanghai Composite was almost unchanged losing 2 points. FXI, iShares China Large Cap ETF, is making an uneven inverse head-&-shoulder pattern. A break above 38.25 will bring the target near 41 in picture.
- Early Morning
- French Flash Manufacturing PMI of 47.8 missed the forecast of 49.6; French Flash Service PMI also missed at 48.2 the forecast of 49.5
- German Flash Manufacturing PMI came in line @ 52.4 but Flash Service PMI of 54.8 missed the forecast of 55.8
- Euro Zone Flash Manufacturing PMI was inline at 51.9; The Flash Services PMI of 52.8 missed the estimates of 53.
- 9:45 AM: US Flash Manufacturing PMI of 57.5 beat the estimates of 56.1
- 10:00 AM: US Existing Home Sales were 4.89M better than the estimates of 4.74M
- Net-Pickings
- China Manufacturing Gauge Climbs in Sign of Pickup
- Wealth Managers Exit India as Millionaires Hard to Entice
- BOJ Can Help Bond Market Withstand GPIF Sales
- Record Japan Buybacks Salvaging Stocks Left Out of Rally
- Stocks are ‘dangerously overvalued,’ M&A deals suggest
- Confessions of insider trader Scott London
- Stock futures swing ahead of housing, PMI data
