U.S. ISM Services Index Plummets to Three-Year Low

The video discusses market expectations and the impact of PMI data, highlighting a weaker PMI that suggests a potential economic slowdown. The services industry, being larger than the manufacturing sector, shows signs of contraction. Concerns about the US consumer's resilience are raised, with potential implications for the Federal Reserve's actions. Jobless claims have risen slightly, but remain low, leaving questions about consumer confidence and market reactions.

What was the market's expectation regarding the PMI?

How did the new orders index and employment index impact the market?

What evidence suggests that the US consumer might be a concern?

What factors could influence the Federal Reserve's decisions in October?

What was the trend in jobless claims, and how does it relate to consumer confidence?