US S&P Global Manufacturing PMI stands at 51.9 in January, comes in close to expectation

Summary

Rick Santelli reviews the latest preliminary S&P Global U.S. PMI data on CNBC. Manufacturing PMI was 51.9, close to expectations and above the prior final reading, while services PMI held at 52.5 and the composite rose to 52.8. He also notes Treasury yields were little changed and upcoming LEI and University of Michigan data.

• Rick Santelli reports preliminary S&P Global U.S. manufacturing, services, and composite PMI data.
• Manufacturing PMI was 51.9, close to expectations and above the prior 51.8 final reading.
• Services PMI was 52.5, unchanged from the prior final reading.
• Composite PMI was 52.8, slightly light versus expectations but higher than the prior 52.7 final.
• The 10-year Treasury yield was around 4.24%, down 1 basis point on the day and up 2 basis points on the week.
• He notes equity markets have had a wild ride and that LEI and University of Michigan final data are due.
• No explicit directional trade recommendation is made in the segment.