Westpac IQ Economics Morning Report
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Monthly purchasing managers’ indices (PMI) show resilient growth in the US and subdued activity in the UK and Europe; US treasuries and dollar pull back; US yields flat to lower; S&P 500 up 0.2%, NASDAQ up 0.8%, Dow Jones down 0.3%; Euro Stoxx 50 and German Dax up 0.3%; UK FTSE 100 up 0.1%; 2-year US yield at 4.08%, 10-year yield at 4.21%; 94% chance of November Fed rate cut; Aussie dollar slightly firmer; WTI crude down 0.4% to $70.36; Iron ore futures up 0.6% at $100.50; Eurozone composite PMI at 49.7; UK composite PMI at 51.7; US composite PMI at 54.3; Initial jobless claims at 227k.

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https://www.westpaciq.com.au/economics/2024/10/Morning-report-25-Oct-2024