- Reuters
US services sector rebounds in May
The Institute for Supply Management said its nonmanufacturing purchasing managers index rose to 53.8 last month from 49.4 in April. May's reading, the highest since August, topped the estimates of all 59 economists in a Reuters poll that had pegged the median expectation at 50.8, just above the 50 level that separates growth from contraction. The report's business activity index shot up 10.3 points, the largest rise since March 2021 and vaulting it to 61.2, the highest level since November 2022.
- Reuters
LSEG, S&P among potential bidders for data provider Preqin, sources say
The London Stock Exchange Group and S&P Global are among potential bidders for data provider Preqin, four people with knowledge of the situation said. The owners of the UK data firm that focuses on the private equity industry are considering options including a full sale of the business, and are being advised by Goldman Sachs, three of the people said. S&P already has a strategic partnership with Preqin to share data on their respective platforms.
- Yahoo Finance Video
BlackRock, Citadel back plans for Texas Stock Exchange
TXSE Group plans to create the Texas Stock Exchange, raising $120 million with participation from two dozen investors, including BlackRock (BLK) and Citadel Securities. The group intends to submit its registration with the Securities and Exchange Commission (SEC) later this year. Madison Mills and Brad Smith break down the details. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This article was written by Gabriel Roy
