U.S. Economic Conditions Deteriorate
S&P Global Composite PMI for August was 45.0, below the forecast of 49.0 and a decrease from 47.7 in July. A reading under 50 represents a contraction.
Despite the increased likelihood of recession, stock markets are rallying slightly on the news as bond yields subside. Right now, stock investors fear inflation and higher rates more than a slowing economy, but neither scenario is bullish for companies' earnings.
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whqqq : So we should look for companies that are less affected by inflation, such as food and commodity retail
Jinan Riadh : Hi