June Services PMI falls below expectations

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June's Services Purchasing Managers' Index (PMI) data released Wednesday morning fell short of economist expectations. The Institute for Supply Management (ISM) services index registered at 48.8, below the anticipated 52.7. A reading below 50 indicates a contraction in the sector. Catalysts hosts Madison Mills and Brad Smith break down the details of the report, exploring market reactions in US equities (^DJI, ^IXIC, ^GSPC) and Treasury yields (^TYX, ^TNX, ^FVX), and the print's implications for the broader economy. About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. - Get the latest news and data at finance.yahoo.com - Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO) - Follow Yahoo Finance on social: X: http://twitter.com/YahooFinance Instagram: https://www.instagram.com/yahoofinance/?hl=en TikTok: https://www.tiktok.com/@yahoofinance?lang=en Facebook: https://www.facebook.com/yahoofinance/ LinkedIn: https://www.linkedin.com/company/yahoo-finance #pmi #economy #yahoofinance

Published 2024-07-03 · Watch on YouTube ↗
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