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Shipping levels decline in July 2024; PMA report shows metalformers' outlook steadies, with 61% predicting no change in economic activity

Citi downgrades emerging market stocks to underweight, citing concerns about potentially stronger US dollar and heightened geopolitical risks; while EM markets boast strong expected EPS growth, year-to-date performance has been lackluster

S&P Global Flash United Kingdom PMI rose to 52.7 in July from 52.3 in June, the ninth straight expansion; the upturn encouraged firms to increase staffing numbers at quickest pace for 13 months

HCOB Flash Eurozone PMI in July fell to 50.1 from 50.9 in June, the fifth straight month of rising output; new orders decreased for the second consecutive month, while sentiment fell to a six-month low and just below the series average

S&P Global Flash US Composite PMI edged up to 55.0 in July from 54.8 in June, rate of expansion improved after slowing in April; service sector outperformed manufacturing for fourth straight month, manufacturing output fell for first time since January

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