Following Europe's mixed bag of PMIs (Manufacturing contracting harder as Services save the composites in France, Germany, & UK - but all still in contraction overall), S&P Global's US Manufacturing and Services were expected to decline modestly in preliminary December data released this morning.
Analysts were half right... as US Manufacturing PMI plunged to 48.3 (from 49.7 and below all expectations) but US Services soared higher (to 58.5 from 56.1, far above all expectations)