By: Dylan Sikes - AllPennyStocks.com News

Monday, October 3, 2016

Equities have edged lower in trading today as market participants digested some key economic data. Going forward, the economic data will be closely watched as it will decide the course of future action by the Federal Reserve. Remember that the central bank was rather cautious when it released its monetary policy statement last month. The data released earlier today paints a very mixed picture of the U.S. economy. The Markit Manufacturing PMI for the month of September showed a reading of 51.5, which is a three-month low. The ISM Manufacturing Index for the month of September showed a reading of 51.5. Meanwhile, construction spending for the month of August dropped 0.7%, compared to consensus forecast for an increase of 0.2%.

All three major indexes in the U.S. have edged lower as investors digested the mixed economic data. One of the major movers in trading today is NABUFit Global Inc. (OTCQB:NBFT). Based in Orem, Utah, NABUFit is an online fitness platform for health and well-being through physical exercises, nutrition and lifestyle. The platform offers interactive, customized exercises and diets founded on the workouts and participation of Sports Stars such as Neymar Jr., Peter Schmeichel, Michael Maze and many more to come.

NABUFit today announced the establishment of its Chinese based operations out of Hong Kong, China. On July 17, 2016, NABUFit initiated plans to establish its China based operations and has incorporated NABUFit China Ltd. in Hong Kong from where the company will market the NABUFit app into Mainland China. The company has completed its market research in China and is currently in negotiations with local partners including media platforms to market the app to the Chinese population, brand ambassadors and famous Chinese sports stars. In addition, NABUFit is targeting certain governmental funds to participate as investors into the Chinese subsidiary.

NABUFit expected to begin marketing the app to the Chinese market in Q3 2016 and establish an office and a local marketing team in Q1 2017.

Brian Palm Svaneeng Mertz, CEO at NABUFIT Global, said that the company clearly recognizes the enormous growth opportunity in the Chinese market and is pleased to be establishing its operations in Hong Kong. Mertz further said that there is increasing interest within the Chinese fitness space and the market is experiencing high growth rates.

NABUFit shares were last trading 4% lower at $1.20 on volume of 33,600, which is more than double the daily average volume of 16,603. With shares in a substantial downtrend over the last 52 weeks, management’s positive outlook doesn’t seem to be resonating with investors.

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