Marketmind: China PMIs, U.S. Fed statement will test growth outlooks

Wednesday will bring prompt tests of the just-released International Monetary Fund upgrades of U.S. and Chinese growth outlooks that could should set the tone for markets, starting with Asia on Wednesday. The IMF on Tuesday adjusted its forecast for 2024 global growth upward amid a stabilized inflation outlook, and said a "soft landing" was in sight. While IMF's World Economic Outlook may not be the biggest market mover, it threw down a marker for the two most important economies, raising the GDP growth rate outlook for China to 4.6% from 4.1% and the U.S. to 2.1% from 1.5%.

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