This morning, futures on U.S. stock indexes are experiencing moderate pressure from sellers. The average extent of the decline for risky assets is in the range of 0.3%. The only exception can be seen in dynamics for copper futures, which are down by more than 1%.
Upon considering these combined facts, we can easily assume that China was once again the source of bad news (copper is a key commodity, and China is a kingdom of commodities, so to speak). Indeed, the HSBC Flash Manufacturing PMI index was published with a value below 50.
On the one hand, such data is unlikely to be optimistic. On the other, the market perceives that the likelihood of an easing of monetary policy in China is growing. Such rumors should not affect market dynamics in general, but may help stocks from the commodity sector.
