Andrew Wilkinson, Chief Economic Strategist at Miller Tabak
& Co. LLC, says the pre-market rebound in stocks signals the
recapture of only half of Thursday's losses following a volatile
day. He says the "up-and-down tussle implies a great deal of
procrastination amongst investors". According to Wilkinson,
liquidity-driven bulls were given cause to pause from the robust
Chicago-area PMI, while the bears "just can't drive the herd over
the cliff - for now at least!." Meanwhile, he notes, investors
watching the Asian region were able to check the growth boxes for
several countries, and most importantly for China, where
manufacturing expansion reached its best in 18-months.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.
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