U.S. S&P Global manufacturing PMI flash came in on the low side at 49.4 versus expectations for 49.9. The services PMI flash edged up to 50.8 versus 50.5 expected. The composite PMI flash registered 50.7, unchanged from October. S&P Global said the results indicated further marginal expansion in November.

For manufacturing, S&P Global said the rate of deterioration in the health of the sector was marginal, but was the fastest since August and resumed the period of contraction seen for much of the past year.

Services have held the 50 column the last nine reports but not by much. November's consensus is 50.5 versus 50.6 in October. Manufacturing, at 50.0 in October, is expected to edge below in November to 49.9.

The flash Composite Purchasing Managers' Index (PMI) provides an early estimate of current private sector output by combining information obtained from surveys of around 1,000 manufacturing and service sector companies. The flash data are released around 10 days ahead of the final report and are typically based upon around 85 percent of the full survey sample. The report tracks changes in variables such as new orders, stock levels, employment and prices across both manufacturing and services. Production is also tracked, defined as"production" for manufacturing and"output" for services. Results are synthesized into a single index which can range between zero and 100. A reading above (below) 50 signals rising (falling) output versus the previous month and the closer to 100 (zero) the faster output is growing (contracting). The report also contains flash estimates of the manufacturing and services PMIs. The data are produced by S&P Global.

Investors need to keep their fingers on the pulse of the economy because it dictates how various types of investments will perform. By tracking economic data such as the purchasing managers' manufacturing indexes, investors will know what the economic backdrop is for the various markets. The stock market likes to see healthy economic growth because that translates to higher corporate profits. The bond market prefers less rapid growth and is extremely sensitive to whether the economy is growing too quickly and causing potential inflationary pressures.