China manufacturing drags on Asia, but Europe up

[Omaha Steve]

Source: AP-Excite

By YOUKYUNG LEE

SEOUL, South Korea (AP) — Asian stock markets were dampened by a weak China manufacturing survey Thursday, but European stocks opened higher. Japan gained on the prospect of a stronger dollar after Fed minutes showed policymakers are leaning toward their first rate hike since the 2008 financial crisis.

KEEPING SCORE: Britain's FTSE 100 added 0.2 percent to 6,771.49 and Germany's DAX gained 0.4 percent to 9,354.87. France's CAC 40 was up 0.4 percent to 4,259.54. Futures augured more gains on Wall Street. S&P 500 futures rose 0.1 percent and Dow Jones futures added 0.2 percent.

CHINA CHILL: Growth in China's vast manufacturing industry weakened in August, suggesting that the recovery in the world No. 2 economy is losing momentum and Beijing may need to spoon out more stimulus. The preliminary version of HSBC's manufacturing index fell to a three-month low of 50.3 from 51.7 in July, indicating that manufacturing businesses are barely growing.

FED MINUTES: Minutes from the U.S. Federal Reserve's last meeting showed that the majority of Fed policymakers believe the U.S. economy is improving enough for the central bank to act sooner than previously thought to withdraw the extraordinary support it's been providing through ultra-low interest rates. The debate on when the Fed should raise interest rates, which have been near zero since 2008, has intensified in recent months as the Fed winds down its other economic stimulus. The minutes from the July 29-30 meeting revealed a sharp debate within the Fed about how and when to scale back its help for a steadily improving economy.

FULL story at link.



FILE - This May 11, 2007 file photo shows a Wall Street sign in front of the flag-draped facade of the New York Stock Exchange. U.S. stocks are opening lower Wednesday, Aug. 20, 2014, after two straight days of gains. (AP Photo/Richard Drew, File)


Read more: http://apnews.excite.com/article/20140821/financial_markets-fd60f3df18.html

[wolfie001]

1. Obviously China needs to build more empty cities.

Too bad the Replugs won't allow the stimulus needed to rebuild our aging infrastructure here. Dems better show up this November dammit.