ISM PMI increased slightly in May 2022 but it was just an aberration. Why?

We believed that the increment of the May ISM PMI was an aberration and we won't be making an analysis of the PMI since it is pointless to do so.  However, we will provide the chart for our viewers to make their own analyses.

Why did we think that the PMI in May was an aberration?

Well, let's take a look at the 5 US regional manufacturing indexes in May in the US.

The Philadephia index declined significantly to 2.6.

http://sg-stock.blogspot.com/2022/05/analyses-of-us-main-street-economic.html

The Richmond index declined significantly to -9.

http://sg-stock.blogspot.com/2022/05/analyses-of-us-main-street-economic_26.html

The Kansas index declined to 19.

The Dallas (Texas) index declined significantly to -7.3.

As 4 of the US regional manufacturing indexes declined in May 2022, we were convinced by these PMIs that the ISM PMI in May was an aberration and the future would still remain a downward trajectory for the US.

The US services index also continued on its downward trajectory after reaching its peak in 2021.

Are we the only ones with this conviction?  No!  Let's take a look at what the others said.

Baltic dry index - 2633

Related stock: Sembcorp Marine, Cosco & Pan ocean.

US rig count (weekly) - 727

 
Related stock: Sembcorp Marine & Cosco.

CDL Hospitality - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/02/21	DBS Vickers	CDL Hospitality	1.2	1.35	Buy
07/07/21	CIMB	CDL Hospitality	1.26	1.43	Add
07/07/21	OCBC	CDL Hospitality	1.26	1.34	Buy
08/02/21	CIMB	CDL Hospitality	1.21	1.32	Add	DDM
08/02/21	Kim Eng	CDL Hospitality	1.21	1.2	Hold	DDM
08/03/21	DBS Vickers	CDL Hospitality	1.2	1.35	Buy
09/01/21	CIMB	CDL Hospitality	1.17	1.32	Add
09/01/21	DBS Vickers	CDL Hospitality	1.17	1.35	Buy	DCF
09/01/21	DMG & Partners	CDL Hospitality	1.17	1.25	Neutral
09/01/21	Kim Eng	CDL Hospitality	1.17	1.2	Hold
09/01/21	OCBC	CDL Hospitality	1.17	1.36	Buy
11/02/21	OCBC	CDL Hospitality	1.2	1.34	Buy
11/05/21	DMG & Partners	CDL Hospitality	1.19	1.25	Neutral
11/17/21	UOB Kay Hian	CDL Hospitality	1.26	1.24	Hold
12/06/21	DBS Vickers	CDL Hospitality	1.1	1.4	Buy	DCF
01/04/22	UOB Kay Hian	CDL Hospitality	1.2	1.42	Buy	DDM
01/07/22	CIMB	CDL Hospitality	1.18	1.32	Add
02/03/22	OCBC	CDL Hospitality	1.13	1.3	Buy
02/22/22	UOB Kay Hian	CDL Hospitality	1.22	1.45	Buy	DDM
02/23/22	DBS Vickers	CDL Hospitality	1.21	1.4	Buy
03/14/22	DMG & Partners	CDL Hospitality	1.15	1.25	Neutral
05/04/22	Kim Eng	CDL Hospitality	1.34	1.45	Buy	DDM
05/05/22	DBS Vickers	CDL Hospitality	1.35	1.55	Buy	PB1.15x
05/05/22	DMG & Partners	CDL Hospitality	1.35	1.3	Neutral	DDM
05/05/22	CIMB	CDL Hospitality	1.35	1.38	Add
05/05/22	OCBC	CDL Hospitality	1.35	1.45	Buy
05/26/22	UOB Kay Hian	CDL Hospitality	1.27	1.57	Buy	DDM
06/03/22	UOB Kay Hian	CDL Hospitality	1.29	1.48	Buy

CapitaRetail China - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/30/21	OCBC	CapitaRetail China	1.38	1.56	Buy
10/08/21	DBS Vickers	CapitaRetail China	1.24	1.6	Buy	RNAV
10/13/21	Lim & Tan	CapitaRetail China	1.25	0	Accumulate
01/31/22	Lim & Tan	CapitaRetail China	1.14	0	Accumulate
02/03/22	DBS Vickers	CapitaRetail China	1.18	1.6	Buy
02/04/22	OCBC	CapitaRetail China	1.18	1.5	Buy
04/27/22	DBS Vickers	CapitaRetail China	1.18	1.55	Buy
05/04/22	OCBC	CapitaRetail China	1.17	1.4	Buy