Here comes Markit manufacturing PMI ...

Data on US manufacturing in November are set for release this morning.

First up, at 9:45 a.m. ET, Markit will release its flash purchasing manager's index (PMI), which is expected to stay unchanged at 52.6.

And at 10:00 a.m., the ISM manufacturing index will cross, and it is expected at 50.5, versus 50.1 prior.

Deutsche Bank's Jim Reid wrote to clients on Tuesday that the firm's below-consensus ISM forecast of 49 "is based on the recent weakness in the NY and Philadelphia Fed surveys also, which is consistent with a decline in factory activity but not the overall economy (for the overall economy to be contracting, the level of the manufacturing ISM would have to be near 43)."

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