China’s manufacturing sector continued to slow in January, but global markets rallied Tuesday on the heels of rising oil prices. ‘What’s helping the markets at the moment is almost a sense of stability within the oil markets,’ said James Hughes, chief market analyst at GKFX, based in London. ‘The $30 level is acting as a bit of a magnet for the markets.’ China’s Purchasing Managers’ Index stood at 49 in January, falling short of economists’ estimates. Prices for West Texas Intermediate gained almost 2 percent, eclipsing $34 a barrel. TheStreet’s Scott Gamm reports from Wall Street.
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