Wall Street began the day with a soft as driven by weakness in Asian and European bourses. However, prices rebounded as economic data released appeared stronger than expected. DJIA and S&P 500 Indices ended the day flat. In the commodity sector, crude oil price tumbled as Chicago PMI missed consensus. Slowdown in the manufacturing sector could dampen oil demand. Moreover, surprising increase in crude inventory also triggered the selloff. Gold rallied to a 2-month high after a few days of consolidation. Surge in Treasuries helped support the yellow metal. Today in Asia, stocks and oil prices were lifted higher as China’s PMI accelerated in August.
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Sentiment Boosted by Strong Chinese PMI. US Outlook Remains Soft
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