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    Entertainment Business Master’s Grad Launched Nonprofit to Nurture Emerging Artists – Full Sail University

    Entertainment Business Master’s Grad Launched Nonprofit to Nurture Emerging Artists – Full Sail University

    Review: At the Huntington, the New Hollywood String Quartet recalls legendary studio musicians – Los Angeles Times

    Review: At the Huntington, the New Hollywood String Quartet recalls legendary studio musicians – Los Angeles Times

    Kehoe repeals paid sick leave, allows several counties in the Ozarks to have entertainment districts in bill signings – KY3

    Kehoe repeals paid sick leave, allows several counties in the Ozarks to have entertainment districts in bill signings – KY3

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    Emily Deschanel was scolded during “Bones” season 1 for being ‘late and unprepared’: ‘I was just beside myself’ – Yahoo

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    Unlock the Secret to Watching New Movies Before Everyone Else!

    Immersive sports and entertainment venue Cosm set to build its 5th location in Cleveland – WKYC

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    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

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    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

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ISM Services PMI Drops To 48.8, Missing Analyst Expectations

July 4, 2024
in Business
ISM Services PMI Drops To 48.8, Missing Analyst Expectations
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The Institute for Supply Management commented: “The decrease in the composite index in June is a result of notably lower business activity, a contraction in new orders for the second time since May 2020 and continued contraction in employment.”

Today, traders also had a chance to take a look at the final readings of S&P Global Services PMI report. The report indicated that S&P Global Services PMI increased from 54.8 in May to 55.3 in June, compared to analyst consensus of 55.1.

Factory Orders declined by 0.5% month-over-month in May, while analysts expected that they would grow by 0.2%.

U.S. Dollar Index pulled back towards the 105.00 level as traders reacted to the weaker-than-expected ISM Services PMI report. The surprising weakness in the services sector may provide the Fed with an opportunity to start cutting rates sooner than previously expected.

Gold moved above the $2350 level and is trying to settle above $2365 as traders focus on U.S. dollar’s pullback and falling Treasury yields.

SP500 tested session highs near the 5530 level after the release of the report. Stock traders remain bullish despite the weak report as they focus on falling Treasury yields and hope that Fed will start the rate cut cycle.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : FXEmpire – https://www.fxempire.com/news/article/ism-services-pmi-drops-to-48-8-missing-analyst-expectations-1443345

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