IHS Markit US Manufacturing PMI Rises in September

China urges 'calm and rational' resolution to U.S.-Sino trade war

Addressing inventories, Fiore said the sector is still matching import orders to input material levels, which makes a lot of sense, as manufacturers are closely watching new order levels softened four months ago, with the inventory number being at the 49 level, give or take, with the inventory number now at 46.9.

"In light of the weak results for economic growth and muted inflationary pressures signalled by the PMI data, we expect to see further monetary easing in the months ahead", Lima said. "If that comes to pass, the interest rate advantage that the United States dollars now enjoys over its G-10 peers will close significantly and structural USD longs set during Fed hiking cycle from end- 2015 to end-2018 may start to get unwound".

Readings over 50% sign enterprise situations are getting higher, beneath 50% signifies they're getting worse.

The Institute for Supply Management's purchasing managers' index fell to 47.8% in September - the lowest level since June 2009 and a contraction.

The Cboe Volatility Index, or VIX, an options-based gauge of investor anxiety, rose 2.3 points to 18.56, its highest close in about a month.

New orders increased overall but shrank for the building and furniture sector, which also recorded "especially low" sales numbers.

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"This is serious", said Torsten Sløk, chief economist at Deutsche Bank Securities in NY. The sector had enjoyed 35 consecutive months of expansion.

AstraZeneca PLC (AZN.LN) slipped 1.7% as it said the U.S. Food and Drug Administration hadn't approved its new drug application for PT010, an inhaled treatment for chronic obstructive pulmonary disease.

The ISM said comments from manufacturers "reflect a continuing decrease in business confidence", and also noted that "global trade remains the most significant issue". -China trade wars for the weaknesses in their operations.

Meanwhile, business investment in the second quarter declined at the fastest rate since the final quarter of 2015, and GDP in the second quarter grew at a rate of 2% - below the 2.6% seen throughout the first half of 2019. They have too much leverage over his electoral fortunes by dint of the trade war, and the worse the economic forecasts look, the more leverage they have. At 2020 GMT, the British pound was steady against a broadly firmer us dollar at $1.2302, holding just above three-week lows hit on Friday.

The new export orders index was just 41%, the lowest level since March 2009, down from the August reading of 43.3%, ISM data showed. This raises the risk that factory payrolls contracted in September after increasing by a paltry 3,000 jobs in August. These three industries show the fewest gans by industry since 2013. Transportation equipment, machinery, and electrical equipment, appliances and components were among the 15 industries reporting a contraction.

Chris Williamson, IHS Markit chief business economist, said spare capacity is making companies "become more cautious about costs and spending".

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