European equities closed higher on yesterday session as Purchasing Managers Index for the Eurozone showed manufacturing continued to expand in April. The final manufacturing PMI came in at 52.0, better than the initial estimate of 51.9.
In Asia, stocks trimmed losses and edged up on Monday, as worse-than-expected data from China fueled stakes that Beijing would reveal further support measures to support its falling economy.
Today on the economic agenda we will have the US Non-Manufacturing (PMI) in April that is expected to stay unchanged at 56.5 and the Markit Services (PMI) in April that is estimated to stay unchanged at 57.8.
In April the Usa500 rose 2.08% and is in a bullish phase. We started May with a positive note and yesterday was no different, the Usa500 bounced off the 10-day moving average and closed in the green near the high of the day. The stochastic is showing some bullish momentum and is above the 50 mid line.
Usa500 is a CFD written over S&P500 futures.