(as of 7:00 AM PST)
Economic data from across the pond was mixed with Europe showing renewed economic strength and China lagging in manufacturing growth. China's manufacturing PMI, a key economic indicator slipped into negative territory while Europe's same measure turned more strongly to the positive. It seems the dramatic fall in the value of the Euro is spurring increased exports which is jumpstarting the Euro economy. US markets are very quiet to start in spite of a very strong PMI figure, the highest since October. This is another indication that the US is continuing to recover. Of course that means that Federal Reserve interest rate hikes are closer to a reality and that is scaring investors. Oil and gold are also close to unchanged while the US dollar is up, recovering from a week long decline. Expect worries over an interest rate hike to put negative pressure on markets as the day wears on.
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