August 4, 2026

The July US manufacturing PMIs beat analysts' expectations, and major US stock indexes advanced yesterday

International

Yesterday, the Purchasing Managers' Indices (PMIs) for the manufacturing sector in the United States were released for July. The S&P Global Manufacturing PMI came in at 53.9 points, in line with the June figure (53.9) and slightly above the consensus forecast (53.8), while the ISM Manufacturing PMI reached 55.6 points, exceeding both the consensus forecast (54.0) and the previous reading (53.3). It's worth noting that a reading above 50 points reflects expansionary activity, while a reading below that threshold indicates contraction. Against this backdrop, the main US stock indices advanced yesterday: the S&P 500 gained 1.5%, the Nasdaq rose 2.1%, and the Dow Jones increased 1.3%. Thus, the indices have accumulated year-to-date gains of 11.0%, 11.5%, and 10.6%, respectively.

Regarding bond yields, the US Treasury yield curve showed slight compressions yesterday. The 1-year bond remained virtually unchanged at 4.03%, while the 3-year bond moved from 4.35% to 4.30%. Finally, the 10-year bond yield fell from 4.73% to 4.68%.

As for commodities, gold advanced 0.2% and closed at USD 4,054.3 per ounce. Soybeans, meanwhile, fell 0.3% to USD 429.4 per ton. In the energy sector, WTI crude fell 5.1% to close at $80.3 per barrel, while Brent crude declined 7.1% to close at $83.8 per barrel.

Finally, regarding second-quarter corporate results, Palantir reported yesterday, exceeding analysts' expectations for both earnings per share (EPS) and revenue. This morning, Caterpillar and Merck & Co. released their earnings reports, both exceeding analysts' expectations. AMD and SpaceX will release their reports after the market closes today.

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