Heads up! Minutes away from a key data release: Markit’s April U.S. manufacturing PMI survey results, due out at 8:58 AM ET.
Economists predict the headline index reading will come in at 52.0, matching the flash estimate published by Markit earlier this month, but down from last month’s 54.9 reading.
Any reading above 50 on the index signals expansion, so a 52.0 reading in today’s release would suggest that American manufacturing is still expanding, but at a markedly slower pace than in March.
Earlier this morning, we got a weaker than expected employment report from ADP. The firm estimates that only 119,000 new private payrolls were created in April, below the 150,000 predicted by market economists. Last month’s ADP results were revised down to 131,000 from 158,000.
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