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Damn the torpedoes! Stocks go full speed ahead despite declining U.S. shipping and manufacturing data


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Buying momentum continued in Asia and European stock markets today, and S&P futures were priced up this morning.

On May 2, 2025, global stock markets experienced a significant rally, driven by positive developments in the shipping and manufacturing sectors. According to Fortune, the surge was propelled by robust earnings reports from major shipping companies and an uptick in manufacturing activity across key economies, including the U.S., China, and Europe. The article highlights that the Baltic Dry Index, a key indicator of shipping rates, reached its highest level in over a year, reflecting increased demand for commodities and goods. Additionally, manufacturing PMI data showed expansion in several countries, boosting investor confidence and leading to gains in stock indices worldwide. The rally was further supported by optimistic forecasts from industry analysts, who cited improving global trade conditions and a rebound in consumer demand as key factors driving the market's upward momentum.

Read the Full Fortune Article at:
[ https://fortune.com/2025/05/02/stocks-rally-globally-shipping-manufacturing/ ]

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