Market Multiple Table: May Update
What’s in Today’s Report:
- Market Multiple Table: May Update
- ISM Manufacturing PMI Takeaways
- Is the Bank of England About to Become the Second Large Central Bank to Taper QE?
Stock futures are modestly lower this morning after a mostly quiet night of news as investors continue to digest the equity market’s latest run to record highs and technology shares lag.
Economically, the U.K.’s Manufacturing PMI was 60.9 vs. (E) 60.7 in April, helping the FTSE outperform this morning.
Today, there are a few economic reports to watch early in the day including: Motor Vehicle Sales (E: 17.5M), International Trade in Goods (E: -$74.0B), and Factory Orders (E: 1.3%) however none of them should materially move markets.
There are no Fed officials scheduled to speak today and no Treasury auctions.
Earnings season is still underway with a few notable companies reporting Q1 results today including: CVS ($1.72), PFE ($0.79), and LYFT (-$0.53).