Oh and by the way. Reality called while you were out watching the butterflies in the Ukraine.
Reuters - US factory activity growth hits highest since May 2010. Quote:
Financial data firm Markit said the final read of its U.S. Manufacturing Purchasing Managers Index rose to 57.1 in February, above both the preliminary read of 56.7 and expectations for a read of 56.6. The report was much stronger than January's 53.7 reading, which was a three-month low, hurt by bad weather.
Williamson added, "The upturn pushes the trend over the last three months to the strongest since May 2012, suggesting that the sector maintained robust underlying growth momentum throughout the winter months."
Reuters - US construction spending unexpectedly rises in January. Sayeth the wheel:
U.S. construction spending unexpectedly rose in January as an increase in private construction projects offset a drop in public outlays in a hopeful sign for growth this quarter.
Construction spending gained 0.1 percent to an annual rate of $943.1 billion, the Commerce Department said on Monday. December's construction spending growth was revised up to 1.5 percent.
Economists polled by Reuters had expected a 0.5 percent drop in January after a previously reported 0.1 percent rise in December.
Reuters - Global factory growth at near three-year high in Feb. Quoth the raven:
JPMorgan's Global Manufacturing Purchasing Managers' Index (PMI) rose to 53.3 in February from 53.0, above the 50 mark that indicates growth for the 15th month.
The U.S. PMI shot up, the euro zone's remained strong, and upturns in Japan and Britain remained robust.
Reuters - Italy car sales up 8.59% in Feb. Comin outcha mouth witcha blah blah blah:
New car sales in Italy, Europe's fourth-largest car market, rose 8.59 percent in February from the same month a year ago to 118,328 vehicles, Italy's transport ministry said on Monday.
There's something to be said for the cold dispassionate robotic heart of an automated news service in times like this. Apparently, we're now getting that positive DM data you've been worried about.
But hey, don't listen to me: keep selling the S&P 500 and Europe.