Both Services and Manufacturing PMI surveys by Markit unexpectedly increased further into expansionary territory in May. Both were expected to decline slightly, but Services surged to 70.1, from 64.7 last month, and Manufacturing increased slightly to 61.5, from 60.5. Readings over 50 indicate expansionary environments.
The housing market slowed down in April, though from frenzied levels, as prices climbed to new highs and the overall supply of units continues to be tight.
Bitcoin, and other cryptocurrencies, dramatically fell on the back of regulatory crackdowns in China over mining and trading. Declining to the mid-$30,000 range on Friday, from $48,000 a week prior and nearly $60,000 in early May.