"The U.S. manufacturing sector returned to expansion territory in January after five months in contraction, according to the latest reading of the Institute for Supply Management (ISM) Purchasing Managers Index. The boost in business confidence is perhaps not surprising given recent monetary easing, indications of troughing global growth, and the signing of a provisional U.S.-China trade deal. Of particular relevance to us was the rise in new orders, from 47.6 to 52."
(Cautious as Activity Rebounds dated 02/07/20 by Jeff Schulze, CFA & Investment Strategist, and Josh Jamner, CFA & Investment Strategy Analyst, with Clearbridge Investments)
Full article can be read here: https://www.leggmason.com/en-us/insights/market-outlook/cb-aor-cautious-as-activity-rebounds.html