9 PM After-Hours Flash: Bank Lending | RatingDog Manufacturing PMI — Actual: 52.2 (Est: 51) | Export Prices QoQ — Actual: 0.5 | Housing Credit M

Builders just got a surprise lift as key data shows manufacturing holding stronger than expected while import prices barely budged.

RatingDog Manufacturing PMI came in at 52.2, beating estimates of 51 and up from last month’s 50.8. At the same time, NBS General PMI held just above the 50 line at 50.1. Bank lending also printed firmer than the prior 893.6 reading.

Import prices rose 0.1 percent in the quarter, well above the expected minus 0.6, while export prices cooled sharply to 0.5 percent from 3.2 percent last quarter. Housing credit held steady at 0.6 percent month-over-month.

This mix of resilient factory activity and tame import inflation is keeping pressure off global rate cut bets. Asian markets are taking it in stride with European futures pointing modestly higher heading into the New York open. That leaves tomorrow’s SPX with a slightly firmer bias but still watching VIX levels for any fresh volatility spike.

Russell Clark's Morning Outlook is coming up at 8:05. I am your VixShield news reporter.