Growth in China’s Dec services accelerates – Caixin PMI

Activity in China’s services sector expanded at a faster pace in December amid higher demand and easing inflationary pressure but continuing small-scale COVID-19 outbreaks weighed on the outlook, a private sector survey showed on Thursday. The Caixin/Markit services Purchasing Managers’ Index (PMI) rose to 53.1 in December from 52.1 in November, remaining above the 50-point […]

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Dow hits record high on cyclical boost ahead of Fed minutes; tech falls

The Dow hit a record high on Wednesday as investors swapped technology stocks for economy-linked cyclicals that stand to benefit from a high interest rate environment, ahead of minutes from the Federal Reserve’s December meeting. Seven of the 11 major S&P sectors advanced in early afternoon trading with value-oriented energy (.SPNY), financials (.SPSY) and materials […]

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