US500 trades close to the session low at the open of the cash market in the US after PMIs from Europe cemented fears of recession in Germany. Having said that, the US500 is still very close to all-time highs and investors will want to see if this is warranted by the state of the US economy. The US PMI indices for manufacturing and services will be released at 2:45pm BST – consensus is 50.3 for manufacturing and 51.5 for services.
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