Service sector activity expands in April

Service sector activity expanded in April, but slightly less than expected.

Markit Economics' latest services PMI came in at 57.4 in April, just below expectations.

Expectations were for the reading to come in at 57.8, unchanged from the flash reading, and indicating expansion in the economy's service sector.

Readings above 50 indicate expansion.

This report follows trade deficit data released earlier on Tuesday which indicated that the US economy may have actually shrank in the first quarter.

We'll be back with the live numbers when they drop.