The S&P 500 recorded its fastest correction in history, according to Deutsche Bank Global Research. All sectors within the S&P 500 suffered a correction, with energy stocks faring the worst due to falling oil prices. Communication services stocks held up the best, helped by earnings growth in Netflix shares.
Macroeconomic data released on Friday showed activity in China’s factory sector contracted sharply in February. The manufacturing purchasing managers’ index plunged to 35.7 and the non-manufacturing number also fell to its lowest ever level.
Elsewhere, French President Emmanuel Macron is under pressure over a decision to push through pension reforms and, over in Israel, voters head to the polls for the third time in less than a year. U.S. ISM manufacturing statistics and some final readings of European PMIs are due, while it’s a quieter week in terms of corporate earnings.
Asian stocks and European equity futures climbed Monday amid signs of support from central banks.CLICK HERE