After a somewhat soggy end to the otherwise spectacular month of August which saw 12 new all time highs in the S&P500, global stocks and US futures are solidly green to start the month of September despite another round of dismal global PMIs confirming the global economy is slowing, and especially China where the Caixin China manufacturing PMI came in at 49.2, missing expectations of 50.3, and the first contraction since April 2020. Of course, the coming global slowdown is great news for stocks as it means more stimmies in China, and a potential taper delay in the West (where hyperinflation is “transitory” after all) meanwhile the Fed’s QE cannon continues to blast billions in daily liquidity and naturally futures were solidly in the green, higher by 15 points to 0.34% to 4,536, Dow e-minis were up 106 points, while Nasdaq 100 e-minis were up 33.75 points, or 0.22%.ahead of U.S. ISM manufacturing data and ADP employment change.

Energy stocks led Wednesday’s gains, with oil majors Chevron Corp, Exxon Mobil and Schlumberger NV rising between 0.5% and 1.1% in premarket trading as crude prices rose ahead of today’s OPEC+ meeting. Rate-sensitive banks also rose with J.P.Morgan, Goldman Sachs and Citigroup up about 0.6% on support from higher bond yields.  U.S-listed shares of the world’s biggest miner BHP Group dropped 1.7%, while those in China-focused mining giant Rio Tinto fell 1.2% after tepid China factory data dented copper and iron ore prices. Shares of Calvin Klein and Tommy Hilfiger owner PVH Corp surged 7.8% after it raised its full-year earnings forecast. Here are some other notable movers:

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