WS #16691
The Institute for Supply Management reported its Manufacturing PMI at 55.5 for October, exceeding the 54.5 consensus and previous month's reading. New orders, production, and employment all expanded, while supplier deliveries slowed and raw material inventories grew. This data suggests the US manufacturing sector is accelerating, which supports cyclical stocks and energy demand but may dampen hopes for immediate Federal Reserve rate cuts.
ISM Manufacturing Beat
The Institute for Supply Management reported its Manufacturing PMI at 55.5 for October, exceeding the 54.5 consensus and previous month's reading. New orders, production, and employment all expanded, while supplier deliveries slowed and raw material inventories grew. This data suggests the US manufacturing sector is accelerating, which supports cyclical stocks and energy demand but may dampen hopes for immediate Federal Reserve rate cuts.