Wall Street: PMI, Brainard and Powell indices on the program

(Boursier.com) — On the economic front on Wall Street this Friday, the preliminary American composite PMI index for the month of September will be known at 3:45 p.m. (consensus 47.6, with a manufacturing index of 51.2 and a services indicator expected in strong contraction zone at 45). Fed officials also do not intend to let the markets digest the recent announcements, including a further rate hike of 75 basis points on Wednesday and a still hawkish speech from Jerome Powell. Thus, the boss of the Fed intervenes again this evening. Lael Brainard, the vice-president of the American central bank, as well as Michelle Bowman, governor of the Fed, must also speak during the day.

Elsewhere in the world this morning, European PMI indicators showed a fairly general contraction in activity in September. The euro zone’s preliminary composite PMI for September was 48.2 (48.5 for the manufacturing PMI and 48.9 for the services). The German PMI indices stood well below the 50 mark (48.3 for the manufacturing index and 45.4 for services). The French manufacturing PMI was 47.8, against 53 for services. In the UK, the CIPS manufacturing PMI was 48.5 and the services index was 49.2.