September activity data in the United States surprise on the upside

International

Yesterday, the preliminary September readings for the S&P Global Purchasing Managers' Indexes (PMI) for the United States were released. The manufacturing PMI stood at 57.0 points, exceeding both the 53.6 points expected by the analyst consensus and the previous month's 53.9 points. Meanwhile, the services PMI reached 58.7 points, compared to the 55.8 points expected by analysts and the previous reading of 56.5 points. Readings above 50 points indicate an expansion in activity, while readings below 50 indicate contraction.

Major US stock indices closed in negative territory yesterday. The S&P 500 fell 0.8%, bringing its year-to-date gain to 12.6%. The Nasdaq posted the day's largest decline at 1.1%, though it retains a year-to-date gain of 15.9%. Meanwhile, the Dow Jones dropped 0.7%, accumulating a 7.2% gain for the year.

Regarding US Treasury yields, rates rose across the entire yield curve. The 1-year bond yield moved from 4.39% to 4.43%. Similarly, the 3-year bond yield rose from 4.82% to 4.97%. The 10-year bond yield climbed from 4.96% to 5.12%, crossing the 5% threshold.

Finally, in the commodities market, gold fell 1.7% to USD 4,286.4 per ounce. Soybeans declined 0.6% to USD 484.0 per tonne. In contrast, oil prices rose: WTI advanced 2.6% to $92.9 per barrel, and Brent gained 4.4% to $103.7 per barrel.

Source: PUENTE