<p>Wall Street edged up today after initial jobless claims fell last week, hitting another five-year low,<br /><br />and positive manufacturing data from China the U.S. and Europe.</p><br /><p>Kenny Polcari from O'Neil Securities will weigh in on the upbeat manufacturing data, as well as what this<br /><br />means for the global economy for 2013.</p><br /><p>Data suggesting German growth picked up boosted hopes for a swifter euro zone recovery.</p><br /><p>Manufacturing in China and the United States grew this month at the fastest pace in about two years.</p><br /><p>HSBC said its "flash" index of purchasing managers' sentiment for China rose to 51.9 in January from<br /><br />December's final reading of 51.5, while U.S. manufacturing hit its highest since March 2011 at 56.1.</p><br /><p>The surveys released on Thursday indicate that the world economy may be gaining traction after a<br /><br />sluggish 2012.</p><br /><p>Data suggesting German growth picked up boosted hopes for a swifter euro zone recovery.</p><br /><p>Markit's "flash" Composite Eurozone Purchasing Managers' Index jumped more than expected to 48.2<br /><br />from December's 47.2.</p><br /><p>The PMI data from Germany, which is Europe's largest economy, suggested its economy grew at its<br /><br />fastest pace in a year, while in France business activity slowed.</p><br /><p>But the surveys show that the pace of the contraction in the Eurozone is slowing, and that conditions<br /><br />may be improving for Europe.</p>
