STOCK MARKET WATCH -- Wednesday, 7 September 2022

[progree]

2. ISM non-manufacturing considerably better than expected, raising odds of a 0.75 rate hike

https://finance.yahoo.com/news/stock-market-news-live-updates-september-6-2022-112216119.html

The Institute for Supply Management reported its non-manufacturing PMI rose to a reading of 56.9 last month from 56.7 in July, the second straight monthly increase ofter a three-month decline.

((55.5% was expected per MarketWatch's Calendar. The Manufacturing PMI came in at 52.8, also beating expectations -Progree)),

Immediately following the results, the CME FedWatch Tool reflected a new high in probability — a 74% chance — that the Federal Reserve will raise interest rates by another 0.75%.

Treasury yields nudged higher as investors await the central bank's next move. The benchmark 10-year note climbed to 3.338%, while the 2-year Treasury note rose to yield 3.499%, its highest level since 2007.

More links:

https://www.marketwatch.com/economy-politics/calendar

https://www.msn.com/en-us/money/markets/ism-non-manufacturing-pmi-unexpectedly-rises-to-56-9-in-august/ar-AA11vl6G