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S&P/ASX 200 set for negative start but Flash PMI shows faster growth

S&P 500 Index finished down 0.28% to 2,856 last night

bull and bear
Nasdaq Composite finished down 0.45% to 7,750

S&P/ASX 200 (INDEXASX:XJO) futures are pointing to a weak start today after US markets bounced around driven by US-China trade news and meeting minutes from the Federal Reserve.

Both the S&P 500 Index (INDEXSP:.INX) and the Nasdaq Composite (INDEXNASDAQ:.IXIC) finished lower but bounced off their afternoon lows.

Notably, both oil and natural gas were down around 2%, driving sell-offs in those stocks and sectors with exposure.

Locally, Commonwealth Bank released its monthly Flash Services PMI and Flash Manufacturing PMI data points for May.

The Flash Services PMI came in at 52.3 vs last month’s 50.1 and the Flash Manufacturing PMI came in at 51.1 vs last month’s 50.9.

A score of above 50 indicates expansion and a higher number than the previous month indicates a faster rate of growth

 

 

Pre-market company news: ALL half result and TRS trading update

Discount retailer The Reject Shop (ASX:TRS) has released a trading update this morning saying sales are below expectations and gross margins are well below expectations.

Shares in the company will likely be in for tough day.

Slot machine manufacturer Aristocrat Leisure Ltd (ASX:ALL) is in for a positive day after it revealed NPATA of $422.3 million for the half ended 31 March 2019.

This is above many analysts expectations and will likely see investors in the gaming stock rewarded.

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