Read more about Asian shares rise to 3-month high as US data bolsters reopening hopes on Business Standard. Investors will be watching US jobs data due Friday for clues to the Fed s plans for policy in the coming weeks and months
stocks look to rally tuesday but then fizzled by the end of the day. disappointment by the new manufacturing data. the theme of shortages, high demand and pricing pressure will not be fading any time soon. we re monitoring. this is how you become the best! [wrestling bell rings] [music: “you re the best” by joe esposito] try to be best cause you re only a man and a man s gotta learn to take it try to believe though the going gets rough that you gotta hang tough to make it you re the best! around! nothing s gonna ever keep you down [triumphantly yells] you re the best! around! [ding] don t get mad. get e trade and take charge of your finances today.
Mario Anzuoni/Reuters
The decline is the first since COVID-19 outbreaks spread across the US in April 2020.
Manufacturing supported the broader economy throughout the pandemic as factory demand held strong.
Factory production in the US contracted for the first time since the early months of the pandemic last month, signaling that one of the more insulated pockets of the economy is still vulnerable to the pandemic and its fallout.
The Federal Reserve s measure of manufacturing output fell 3.1% in February, according to data published Tuesday. Economists surveyed by Bloomberg expected a gain of 0.2%. January s reading was revised higher to a 1.2% gain.
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