Oil lost its bid on Thursday after negative energy sensitive manufacturing data from Europe offset the marginally positive gain in the manufacturing index from China. Even Germany... the main growth engine in Europe dropped into the contraction mode with its PMI falling below the 50 threshold. Europe seems to be falling deeper into recession while the US continues to grow... but only slowly. The PMI data released yesterday for the US increased marginally.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
