FYI: After the Markit PMI reading for the Services sector came in weaker than expected, investors were on edge that the ISM Services report fifteen minutes later would also miss expectations. Thankfully, the report didn't disappoint as it rose from 52.6 (the lowest level since August 2016) up to 54.7 versus expectations for an increase to 53.5. On a combined basis and accounting for each sector's share of the overall economy, the October ISM increased from 52.1 (again, the lowest level since August 2016) up to 54.0.
Regards,
Ted
https://www.bespokepremium.com/interactive/posts/think-big-blog/sigh-of-relief-in-ism-services
