Early Update – PMI’s Come in Contractionary, Yields Fall, Mega-Caps Lead

11:18 a.m. ET Stocks jumped at the cash open an upon contractionary U.S. flash PMI’s. Manufacturing PMI came in at 47.6 vs. expectations of 50 and a last print of 50.4. The Services PMI came in at 46.1 on expectations of 48 and a last print of 47.8. A reading above 50 is indicative of expansion,…