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The selling across many of the commodity markets has now turned into a stampede for the exits this week, as the Reuters CRB Index, as well as the commodity ETFs and ETNs are now clearly in a correction phase.
FORBES: The Commodity Bull Market Isn't Over
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Of course the price of commodities has been incredible with the Reuters-Jefferies CRB Index higher by 35.35% since the low on May 25th 2010.
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Though the latest consumer-sentiment index from Thomson Reuters and University of Michigan topped expectations.
WSJ: Stocks Close Narrowly Mixed
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The Reuters Purchasing Manufacturer's index of factory activity fell to 47.3 in July, down 0.6 points from a month before.
ECONOMIST: Overview
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It helps that commodity prices, as recorded by the Reuters-Commodity Research Bureau index, are up 30% in the last two years.
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The index has also substantially outperformed Thomson Reuters (TRI) in the last 18 months.
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On the economic front, U.S. consumers felt worse about the economy in mid-January than at the end of December, bucking economists' projections for a rebound in sentiment, according to the Thomson Reuters and University of Michigan's consumer-sentiment index.
WSJ: Blue Chips Finish Strong
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The manufacturing sector grew at its fastest pace since June 2011 in February, according to the Institute of Supply Management's manufacturing purchasing managers' index, while U.S. consumer confidence was at its highest level since November, according to Thomson-Reuters and University of Michigan's consumer-sentiment index.
WSJ: Property Curbs Weigh on China Shares
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Economists surveyed by Reuters were expecting a 0.2 percent rise in the index.
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