HERE COMES FLASH MANUFACTURING DATA...

Markit will release its flash reading for May PMI manufacturing at 9:45 a.m.

Expectations are for a reading of 55.5, up a tick from 55.4.

Markit's Purchasing Managers' Index (PMI) is a composite index based on five of the individual indexes with the following weights: New Orders - 0.3, Output - 0.25, Employment - 0.2, Suppliers' Delivery Times - 0.15, Stocks of Items Purchased - 0.1, with the Delivery Times Index inverted so that it moves in a comparable direction.

Here's what it's looked like recently: