China Manufacturing Stuck in Quicksand
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Over the weekend, PMI data in China was reported at 48.2 in June according to an HSBC survey. Although this was inline with estimates, the index was at a seven-month low and indicates growth in China is continuing to slow. Official government PMI data was also reported over the weekend and showed slowing.
Due to slowing economic data in China, many analysts are expecting officials there to continue to provide support to the economy there through stimulus. Many stocks in the U.S. are feeling the effects of slowing growth in China, including Nike Inc (NYSE: NKE). Last week shares of Nike were hit when the company reported underwhelming sales in the area.
Traders will be watching iShares FTSE China 25 Index ETF (NYSE: FXI) today. They will also be watching individual stocks with exposure to China growth, such as Caterpillar (NYSE: CAT). Shipping companies (NYSE: SEA) could also see action on weakening export data.
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Due to slowing economic data in China, many analysts are expecting officials there to continue to provide support to the economy there through stimulus. Many stocks in the U.S. are feeling the effects of slowing growth in China, including Nike Inc (NYSE: NKE). Last week shares of Nike were hit when the company reported underwhelming sales in the area.
Traders will be watching iShares FTSE China 25 Index ETF (NYSE: FXI) today. They will also be watching individual stocks with exposure to China growth, such as Caterpillar (NYSE: CAT). Shipping companies (NYSE: SEA) could also see action on weakening export data.
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