Europe markets open lower ahead of House vote on U.S. debt ceiling

China's official measure of factory activity for May came in at 48.8, below the 50-mark that separates growth from contraction — and missing the 49.4 estimate from a Reuters poll.

A weak read in that manufacturing measure "has been a solid precursor to policy easing," Morgan Stanley analysts said in a May 17 report. "If growth does not accelerate sufficiently to narrow the output gap, social stability risk may rise and eventually triggerThe National Bureau of Statistics noted the purchasing managers' index for large manufacturers came in at 50, while that of smaller manufacturers was lower. The index for services activity remained in expansionary territory at 54.5, but marked a second-straight month of decline.CNBC Pro: AMD shares jumped last week on the A.I. buzz.

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European stocks steady as defensives rise amid US debt deal doubtsEuropean stocks were steady on Tuesday, with defensive sectors in the lead as uncertainty remained on whether Congress will clear a U.S. debt ceiling deal and avert a catastrophic default.
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