PMI data released this week showed that most manufacturers have been expanding. The euro zone had the biggest success story as manufacturing PMI for the region rose to its highest level in over two years.
Peripheral countries like the Czech Republic and even Turkey saw a boost as a result. The US, China and Japan followed suit as well with improving PMI figures that suggested the global economic recovery was gaining momentum.
Top News
In other news around the markets:
- US President Barack Obama’s plan to launch a military attack in Syria received support from key members of Congress on Tuesday, making military action in Syria more likely. Obama’s proposal includes limited military strikes that would be designed to punish Syrian President Bashar al-Assad for his use of chemical weapons.
- Russian President Vladimir Putin has cautioned the West about taking military action in Syria without UN approval. In an interview on Tuesday, Putin told the Associated Press that he would support military intervention if evidence proves the Syrian government used chemical weapons against its civilian; but not without UN approval.
- Chinese President Xi Jinping gave an interview on Tuesday in which he said that China’s lackluster economic growth was the government’s choice. Xi said that his leadership team brought down the country’s growth rate so that fundamental problems could be solved.
- On Tuesday, LinkedIn filed with the Securities Exchange Commission for a stock offering worth $1 billion. The Wall Street Journal reported that the company will offer $1 billion worth of class A shares, with underwriters having the option to sell $150 million worth of additional stock.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or
remove ads
.
Asian MarketsEuropean Markets
Commodities
Currencies
Earnings Reported Yesterday
H&R Block, Inc. HRBPike Electric Corp. PIKEPre-Market Movers
J.C. Penny Company Inc. JCPMicron Technology IncMUHalliburton Co.HALCarnival Corp.CCLEarnings
CIENA Corporation CIENDollar General CorporationDGEconomics
By Laura Brodbeck