The tables have turned

The markets are down today because of weak manufacturing data in China and most of Europe. In the US, jobless claims came in better than expected pointing to continued improvement in the labor market. Coming out the financial crisis, global growth was the one positive factor which allowed S&P 500 companies to have good profit growth. Now it seems we are seeing the opposite. The US is continuing to show improvement in economic conditions whereas rest of the world is starting to slow down.

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