After a rough start to the year, are U.S. stock indexes back on track, meaning the correction over?
On Thursday, Jan. 23, the stock market began its descent from nearly record-high levels. January’s “flash” manufacturing PMI reports from Markit Economics revealed some uncomfortable data. In the United States, the flash Manufacturing PMI reading fell to 53.7 from December’s 55.0, for the first decline since October. The big shock came when the HSBC Flash China Manufacturing PMI for January dropped into the range of contraction, hitting a six-month low of 49.6 after December’s final reading of 50.5. A reading below 50 indicates contraction and a reading above 50 indicates expansion. The S&P 500 Index declined 0.89% to 1,828, and this was just the beginning. Read more