Spreadex Market Update
Euro indices edge higher
Looming over global equities, the massive slowdown in Chinese manufacturing remains prominent in investors’ minds. The knock-on effect is already being felt with Japanese exports slowing despite a weaker yen. China's overall PMI of business conditions fell to 47.7 from June's final reading of 48.2, a third straight month below the watershed 50 line and the weakest level since August 2012.
U.S stock-index futures are trading higher in the run-up to the open with strong earnings, including Apple’s, buoying the markets. Apple advanced over 4% in pre-market trading on the back of rising iPhone sales. Of the 156 SPX 500 companies that have reported, 73 percent have exceeded analysts’ forecasts.
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