Markit PMI data for August 2020 (preliminary)
- US manufacturing PMI 53.6 vs. 52.0 estimate. Last month 50.9.
- US services PMI 54.8 vs. 51.0 estimate. Last month 50.0. Highest since March 2019.
- Composite PMI 54.7 vs. 50.3 last month. 18 month high
- new orders for manufacturing 54.3 vs. 51.3 last month
- new orders for services 54.0 vs. 49.4 last month
- order backlog jump to the highest since October 2009
Good data from the PMI preliminary statistics. US stocks have moved back positive. The NASDAQ is trading up about 15.5 points or 0.15%. The S&P is up 1.1 point or 0.04%. The Dow industrial average is up 33 points or 0.12%.
US yields are moving back higher. The 10 year yield is near unchanged levels at 0.646%. The 30 year is down -0.7 basis points at 1.375%..
The US dollar has moved a bit higher.
