NewsWare’s Trade Talk: Wednesday, May 31

S&P Futures are weakening this morning. China's manufacturing activity slipped to 48.8 in May, causing concerning in Asian and European equities. Markets in the U.S are focused on the Debt Ceiling bill where a vote is expected in the House later this evening. A possible rate hike in June is on the table, chances for a June rate hike is at 0.65%. European markets are lower and oil is down over 2% ahead of the upcoming OPEC meeting.