Group 1 - The Manufacturing PMI reported a figure of 52.6, significantly higher than the expected 48.5, indicating stronger-than-anticipated growth in the manufacturing sector [2][3] - The positive PMI results have shifted focus back to traditional and defensive sectors among equity investors, suggesting a potential shift in investment strategies [3] - Following a volatile January, traders are actively seeking to identify the dominant trend in the market [3]

PMI Report on China Manufacturing China's manufacturing PMI drops to 49.3 in January, indicating a contraction in the manufacturing sector amid seasonal factors China Manufacturing PMI, seasonally adjusted China Manufacturing at a Glance – January 2026 | | Seasonally | Index Compared with the | | | --- | --- | --- | --- | | Index | Adjusted Index | Previous Month | Direction | | PMI | 49.3 | Lower ▼ | Contracting | | Output | 50.6 | Lower ▼ | Expanding | | New Orders | 49.2 | Lower ▼ | Contracting | | New E ...

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 150 points on Monday.The Dow traded up 0.99% to 49,374.44 while the NASDAQ gained 0.74% to 23,634.78. The S&P 500 also rose, gaining, 0.65% to 6,984.27.Check This Out: How To Earn $500 A Month From Goldman Sachs Stock Ahead Of Q4 EarningsLeading and Lagging SectorsInformation technology shares gained by 0.8% on Monday.In trading on Monday, energy stocks fell by 1.6%.Top HeadlineThe ISM Manufacturing PMI climbed to ...

1 February 2026 | 8:44PM HKT Economics Research China: Three things in China Three quick highlights from China: n NBS PMIs disappointed: The NBS manufacturing PMI fell to 49.3 in January from 50.1 in December, and the NBS non-manufacturing PMI also declined to 49.4 from 50.2—both below market expectations. This pattern mirrors 2025's trend, with stronger readings in quarter-end months (March, June, September, and December), followed by notable decreases in the month immediately after. Among the major sub-in ...

A study of affluent Chinese released this month by consulting firm Oliver Wyman found that 22% of respondents were negative about the economy when surveyed in May. It just exceeds the 21% seen in October 2022, just before Beijing announced plans to ease its stringent zero-Covid policy.Asia-Pacific markets traded mixed Monday as investors assessed private data for China's factory activity in January, while gold extended losses from Friday.China's factory activity gathered speed in January, according to a pri ...

Group 1 - The core viewpoint indicates that China's manufacturing market demand has tightened in January, but production remains in an expansionary phase, with ongoing optimization of the industrial structure [1] - In January, the manufacturing Purchasing Managers' Index (PMI) for China was reported at 49.3%, a decrease of 0.8 percentage points from the previous month [1] - The equipment manufacturing PMI stood at 50.1%, while the high-tech manufacturing PMI was at 52%, indicating stable development in these sectors and continued optimization of the manufacturing industry structure [1] Group 2 - The service sector is reported to be operating relatively steadily, with business expectations continuing to improve [1]

Group 1: Energy Sector - WTI crude oil prices increased by more than +2% to a 1-week high, positively impacting energy producers due to President Trump's renewed military threats against Iran [1] - The rise in crude prices was also influenced by reports of the US threatening to limit dollar supply for Iraqi oil sales, pressuring Iraq's politicians to form a government excluding Iran-backed groups [1] Group 2: Precious Metals and Mining Stocks - Gold, silver, and platinum prices reached new record highs, driven by a weaker dollar and geopolitical risks, leading to a boost in mining stocks [2] - Barrick Mining closed up more than +3%, while Newmont Mining and Freeport-McMoRan both closed up more than +2% [16] Group 3: Consumer Sentiment and Economic Indicators - The University of Michigan's consumer sentiment index for January was revised upward by +2.4 to a 5-month high of 56.4, exceeding expectations [3][4] - The S&P manufacturing PMI for January rose by +0.1 to 51.9, slightly below expectations [3] Group 4: Stock Market Performance - The broader market saw recovery after early losses, supported by the performance of the Magnificent Seven technology stocks, with Microsoft and Amazon closing up more than +3% and +2% respectively [5][15] - The S&P 500 Index closed up +0.03%, while the Dow Jones closed down -0.58% and the Nasdaq 100 closed up +0.34% [6] Group 5: Earnings Reports and Forecasts - Q4 earnings season began positively, with 81% of the 40 S&P 500 companies that reported beating expectations, and S&P earnings growth projected to increase by +8.4% in Q4 [8] - Capital One Financial Corp reported Q4 adjusted EPS of $3.86, below the consensus of $4.15, leading to a decline of more than -7% in its stock [22]

Summary of Key Points from the Conference Call Industry Overview: China Manufacturing Sector - Significant rebound in official manufacturing PMI: The NBS manufacturing PMI rose from 49.2 in November to 50.1 in December, surpassing both consensus and expectations. This rebound contrasts with declining steel production and subdued Emerging Industries PMI, aligning with the typical "quarter-end rebound" pattern observed in 2025, where PMI increased in March, June, September, and December, then declined the following month due to pressure to boost GDP growth at quarter-end [1][4] Consumer Goods - Extension of consumer goods trade-in program: On December 30, the NDRC and MOF released guidelines for the consumer goods trade-in program for 2026. The program initially boosted retail sales in Q4 2024 and H1 2025, but its impact diminished after June due to funding shortages and approval tightening. The new guidelines adjust subsidy categories and levels, with full-year subsidies projected at approximately RMB 250 billion in 2026, slightly less than the RMB 300 billion allocated in 2025 [2] Economic Growth Projections - Expected slowdown in growth: Growth is projected to slow from 3.8% in 2025 to 2.7% in 2026 due to fewer subsidies and their fading impact [5] Currency Dynamics - USD/CNY exchange rate: The USD/CNY broke below 7.0 at the end of 2025, despite PBOC's daily fixings signaling a moderation in the pace of appreciation. The fixing remained at 7.0288 by year-end, above the model-implied value near 7.00. Key drivers include broad USD weakness and year-end FX settlement demand. The PBOC may prefer a stronger CNY while avoiding rapid appreciation. Projections indicate USD/CNY reaching 6.95/6.90/6.85 in 3/6/12 months [5] Retail Sales and Economic Activity - Retail sales and economic activity: Recent data indicates that retail sales fell in November, and manufacturing PMIs and official non-manufacturing PMI increased in December. Industrial profits and revenue edged up sequentially in November, while November activity data broadly missed market expectations [7] Additional Insights - Policymakers unveiled implementation details for the 2026 "dual upgrade" program, indicating a focus on enhancing economic resilience and sustainability [7] - The PBOC adopted a measured easing stance at the Q4 MPC meeting, reflecting a cautious approach to monetary policy amid economic challenges [7] This summary encapsulates the key points discussed in the conference call, focusing on the manufacturing sector, consumer goods, economic growth projections, currency dynamics, and overall economic activity in China.

Market Performance - The S&P 500 Index is down -0.33%, the Dow Jones Industrials Index is down -0.35%, and the Nasdaq 100 Index is down -0.34% [1] - Stock indexes are experiencing declines, with the S&P 500 and Dow Jones reaching 1-week lows, and the Nasdaq 100 hitting a 1.5-week low [2] - Trading activity is subdued with volumes below normal due to market closures in Germany and Japan for the New Year's holiday [3] Sector Performance - Weakness in chip stocks and data storage companies is contributing to the broader market decline [2] - Mining stocks are also sliding, with gold prices falling to a 2.5-week low and silver prices dropping more than -7% [2] Economic Indicators - US weekly initial unemployment claims unexpectedly fell by -16,000 to a 1-month low of 199,000, indicating a stronger labor market than anticipated [3] - Better-than-expected Chinese economic data supports global growth prospects, with the December manufacturing PMI rising +0.9 to 50.1, and the non-manufacturing PMI increasing +0.7 to 50.2 [4] Seasonal Trends - Seasonal factors are bullish for stocks, with historical data showing the S&P 500 has risen 75% of the time in the last two weeks of December, averaging a 1.3% increase [5] - Market focus for the holiday-shortened week will be on US economic news, with expectations for the December S&P manufacturing PMI to remain at 51.8 [5] Global Market Overview - Overseas stock markets are mixed, with the Euro Stoxx 50 down -0.08% and China's Shanghai Composite up +0.09% [6]

Group 1 - The article discusses the impact of shifting U.S. trade and tariff policies, non-domiciled CDL enforcement, and changes to English language proficiency enforcement on market pressure in the trucking industry [3] - Demand is highlighted as a critical factor, with American Trucking Associations Chief Economist Bob Costello suggesting that supply-side disruptions could lead to fundamental market changes, while Michigan State University Professor Jason Miller emphasizes the importance of demand [4] - Manufacturing output remains significantly weak compared to the 2007 peak, with a decline of nearly 7.8% in industrial production output and a 15.6% decline when excluding hi-tech goods [5] Group 2 - The Manufacturing Purchasing Manager's Index (PMI) showed fluctuations, with new orders contracting for three consecutive months as of November, although primary metals experienced growth [7] - The Federal Reserve's recent decision to reduce the federal funds rate by a quarter percentage point aims to support sluggish manufacturing, indicating moderate economic improvement but heightened uncertainty [8] - Truckload volumes are expected to remain muted in Q4, with a potential meaningful shift anticipated in 2026, despite October and November showing year-over-year performance improvements [9]