That is according to a gauge of business conditions tracked by Morgan Stanley, which said in a recent note that its proprietary Business Conditions Index, or MSBCI, fell 32 points last month, marking its sharpest collapse since the metric was formulated. The gauge touched its lowest point since the 2007-08 financial crisis. A separate composite business-condition index also fell by the most since 2008 and hit its lowest level since February of 2016.
Swirling anxiety around the U.S.’s trade relationship with China and other major international counterparts has hurt the confidence of business leaders because the unresolved tariff battles have made it difficult for corporate chieftains to develop business strategies and forced many companies to alter their supply chains.
Indeed, the U.S. created just 75,000 new jobs in May, well off consensus forecast for some 185,000 jobs created on the month, and potentially marking a significant change of momentum in what has been a pillar of strength in the domestic economy.
Get ready to buy the real dip
Small business sentiment saw a big upside surprise for the month of May. Leading the way once again this month, Quality of Labor is the biggest problem for businesses, impacting a quarter of all those surveyed Behind Labor Quality, Taxes and Government Red Tape take up the number
last time it was that low, $SPX was 700... might be time to buy..
Without a healthy economy the emperor truly has no clothes.
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منبع: MarketWatch - 🏆 3. / 97 ادامه مطلب »