It's PMI-day, stocks in Hong Kong fall from the sky and European leaders head to Latvia. Here are some of the things that people are talking about in markets today.
PMI data is coming in thick and fast: HSBC's gauge of manufacturing in China remained in contraction territory. In the euro zone the data also pointed to a slowing economy, a composite index of services and manufacturing slipped to 53.4 in May from 53.9 in April. U.S. manufacturing PMI is due at 9:45 ET. Also from the U.S. today we'll the latest on Initial Jobless Claims, Philly Fed Manufacturing, Existing Home Sales, and Kansas City Fed Manufacturing Activity.
The Brits like shopping
U.K. retail sales surged 1.2 percent in April from March, more than the forecast of a 0.4 percent increase. Retail sales in the U.K. have now increased for a record 26 straight quarters.
Hong Kong stocks drop like stones
Some of Hong Kong's best performing equities are falling from the sky. Yesterday a $40 billion Chinese company traded in Hong Kong lost almost half of its value in less than thirty minutes. Today, with no immediate explanation, Goldin Financial and Goldin Properties dropped over 60 percent.
Riga round 2
The last time European officials met in Riga to discuss Greece, it didn't go so well. When European leaders convene in the Latvian capital today Greece won't even be at the top of the agenda, but the Greek Prime Minister Alexis Tsipras is still going there hoping to secure a preliminary agreement with creditors.
Deutsche Bank shakeup
Hours before Deutsche Bank's AGM, the bank announced it would give co-CEO Anshu Jain direct oversight of strategy after last month's changes failed to win over investors. Executives are still expected to get a rough ride at today's meeting after several investors indicated they plan to vote against management.