Institute for Supply Management
Coverage of Institute for Supply Management in the Nexus archive.
- Most US stocks rise, but drops for tech keep Wall Street in check
Most US stocks rose, with the S&P 500 gaining 0.2% and the Dow Jones up 0.5%, but tech stocks like Micron and Nvidia fell. General Mills surged 7.1% after stronger-than-expected results and a cost-cutting plan. A weaker-than-expected manufacturing report eased inflation concerns, lowering 10-year Treasury yields to 4.46%.
- Markets fall, as good jobs data indicate no interest rate cuts
U.S. stocks declined as strong jobs data reduced expectations of interest rate cuts, with the Nasdaq, Dow Jones, and S&P 500 all posting weekly losses. The May employment report showed 172,000 jobs added, surpassing forecasts, while inflation concerns and economic indicators like the ISM reports and Beige Book highlighted ongoing challenges.
- America has a muddled recovery in manufacturing
The U.S. manufacturing sector shows signs of recovery with the ISM manufacturing PMI hitting 54, the highest in four years, indicating expansion for five consecutive months. However, industry leaders highlight concerns over the Iran conflict's energy shock, high input costs, and supply chain disruptions, suggesting the rebound may be driven by stockpiling rather than sustained demand.
- ISM Services Prices Paid Unchanged as US Job Openings Fall Slightly
US job openings fell slightly, while ISM Services prices remained unchanged. This slight decrease in job openings may indicate a slowing labor market. The unchanged prices suggest stability in the services sector.
- The American consumer stands firm
U.S. consumers showed resilience with strong retail sales and employment data, supported by rising wages and a low-layoff job market. However, challenges like rising energy prices, geopolitical tensions, and market volatility could impact future consumer spending.