MARKET CURRENTS

real-time news and commentary for investors

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9:04 AM U.S. Flash PMI (first ever) for May 53.9 vs. April's final read of 56.0. It indicates the slowest level of expansion in three months. New Orders 54.8 Vs. 56.9. Backlogs of Work 51.7 vs. 52.2. Input prices 56.3 vs. 63.1. Output prices 52.8 vs. 53.9. Comment!
ALV, BWA

8:54 AM Demand for motor vehicles and parts rose 5.6%, according to this morning's release on durable goods. The reading marks the highest level for the category since last July. On watch: ALV, BWA, GNTX, JCI, TEN. Comment!
8:33 AM April Durable Goods: +0.2% vs. +0.5% expected, -3.7% (revised) prior. Ex-transport -0.6% vs. +0.7% expected, -0.8% (revised) prior. 4 Comments
8:32 AM Initial Jobless Claims: 370K vs. 371K consensus (prior week revised to 372K from 370K). Continuing claims -29K to 3.26M. Comment!
8:14 AM FRBNY President Dudley - one of the leading doves on the FOMC - sounds a hawkish tone, telling CNBC he doesn't see the need for additional ease at this time. What's changed? He has more confidence the economy is going to keep growing and less worry about a "Japanese-style deflation outcome." 4 Comments
6:31 AM U.S. stock futures turn higher ahead of economic releases on jobless claims and durable goods. S&P +0.3%, Dow +0.2%. Comment!

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