BREAKING: US ISM manufacturing in August below expectations ⬇️ Wall Street contracts from the debut of the session

US ISM Manufacturingreport for August came in 47,2 vs 47,5 exp. and 46,8 previously

• US ISM Manufacturing Prices Paid Actual 54 (Exp.: 52, Previous: 52,9)
• US ISM Manufacturing Employment Actual 46 (Previous: 43.4)
• US ISM Manufacturing New Orders Actual 44,6 (Previous: 47,4)

Newest ISM release contributes to the weaker data streak that strarted putting significant presure on Fed to pursue a signifacant rate cut run. Worth noting, that the New Orders hit its lowest point since May 2023, indicating further weakening of manufacturing sector.

Source: XTB Research

The contracts for DJIA experience a sharp decline right after the data publication. Further movements will likely go into moderate stagnation, as the market wait labor market data later this week. Source: xStation5