US: ISM Manufacturing PMI reaches 2-year high in December

The Institute for Supply Management reported its PMI rose to 54.7 in December from 53.2 in November, surpassing expectations of 53.5 and marking the highest level for the index since December 2014.     

The ISM index has now signaled factory-sector expansion in nine of the past 10 months. A reading over 50 indicates expansion in the manufacturing sector, while a reading below 50 suggests contraction.