New Data suggests Rally may have legs

by Laura Ehrenberg-Chesler on December 2, 2010

in Economic Indicators,Employment,Foreign Markets

The past few days have brought good news both domestically and globally.   On November 30th India reported accelerating GDP that will likely exceed their government projections of 8.5%. 

Yesterday, China”s PMI(purchasing managers index) was better than expected, advancing to 55.2, demonstrating they can withstand higher rates as China continues to tap on the brakes.

Also, here in the U.S., ADP employment data was revised upward for October from 43,000 to 82,000.

While there remain many headwinds to a full blown recovery in employment and therefore business, this new positive data suggests the current rally in the equity market could have some legs.

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