BREAKING: ISM Services returns above 50 📈

02:45 PM BST, United States - PMI Data for June:

• S&P Global Services PMI: actual 52.9; forecast 53.1; previous 53.1;

• S&P Global Composite PMI: actual 52.9; forecast 52.8; previous 52.8;

03:00 PM BST, United States - ISM Data for June:

• ISM Non-Manufacturing PMI: actual 50.8; forecast 50.8; previous 49.9;

• ISM Non-Manufacturing Prices: actual 67.5; previous 68.7;

• ISM Non-Manufacturing New Orders: actual 51.3; previous 46.4;

• ISM Non-Manufacturing Employment: actual 47.2; previous 50.7;

03:00 PM BST, United States - Durable Goods for May:

• Factory Orders: actual 8.2% MoM; forecast 8.1% MoM; previous -3.9% MoM;

• Factory orders ex transportation: actual 0.2% MoM; previous -0.6% MoM;

• Durables Excluding Transport: actual 0.5% MoM; previous 0.5% MoM;

• Durables Excluding Defense: actual 15.5% MoM; previous 15.5% MoM;

The June ISM Services PMI rose to 50.8, signaling a return to modest growth after May's contraction. This was driven by rebounds in Business Activity and New Orders, which both returned to expansion. However, Employment fell back into contraction, and backlogs declined further, suggesting weak demand pressure. Prices remained elevated, though slightly lower than May, indicating ongoing cost pressures. Supplier deliveries slowed modestly, and inventories rose. While the overall tone suggests stability, respondents cited ongoing uncertainty, cost concerns, and the impact of tariffs, with some mention of geopolitical tensions. The reading reflects slow but stable expansion amid mixed signals.

Small caps extend gains on positive ISM reading and new orders growth. Source: xStation5