What’s in Today’s Report:
- What the Actual Phase One Deal Means for Markets
- Weekly Market Preview (All About Economic Data)
- Weekly Economic Cheat Sheet
Futures are modestly higher on the U.S./China phase one deal momentum while economic data was mixed.
There were no new details released on phase one trade deal over the weekend, but sentiment towards the agreement remained generally positive.
Economic data was mixed as Chinese economic data beat estimates (Retail Sales, FAI, Industrial Production), while EU flash manufacturing PMI missed 45.9 vs. (E) 47.3.
Today (and going forward) focus will turn back towards economic data, so today’s Flash Manufacturing PMI (E: 52.4) is the key number to watch, while Empire Manufacturing Index (E: 4.0) and the Housing Market Index (E: 70) are also notable. Going forward, the better the economic data, the better for stocks.