Divergent macroeconomic signals defined the second-quarter landscape as strong supply-side indicators clashed with weakening labor data. In the United States, manufacturing activity surged to a four-year high, with the ISM Manufacturing PMI rising to 55.6 and an above-consensus 1.4% gain in labor productivity.
China's trade surplus widened to $112.5 billion, beating forecasts as exports surged 23.9% YoY.
US stock futures edged lower as higher oil prices revived inflation concerns.
China Trade Stays Strong (10-14 August)
