No Surprises Yet In This Morning's Data

This morning's release of May's manufacturing purchasing managers survey (performed by Markit) should come as no surprise. The 50.5 reading (below 50 denotes recessionary conditions) screams to the impact tariffs are beginning to have on the U.S. economy.

Here's the S&P 500's reaction to the release this morning:



ISM's manufacturing survey for May will be released in 10 minutes.