NAB – The Morning Call · PMIs to help show shape of the recovery

PMIs boosts sentiment; NASDAQ hits new high

Wednesday 24th June 2020

There’s a lot of positive sentiment again today, with US equities on the up and the NASDAQ reaching a new high. Phil Dobbie talks to NAB’s Tapas Strickland about yesterdays PMIs, which have helped perpetuate the hope that a V-shaped recovery is still possible. Yet the lockdown in two regions of Germany serve as a reminder that the virus is not contained, alongside the growth in infections in the United States and Latin America. Still, the UK is easing restrictions further from July 4th, allowing pubs to reopen and Boris to get a haircut. Any concerns over a potential collapse in US-China trade talks were quickly dismissed with a tweet from the President, potentially giving more hope that negotiations are back on track.

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