American lumberjack

ISM’s US Manufacturing PMI rises for third straight month

The Institute for Supply Management’s survey of manufacturing companies for July revealed economic activity in the manufacturing sector grew for a second straight month. The headline index rose by 1.6 to 54.2, driven by a surge in new orders and production. In June, the headline index registered 52.6, while in May it registered 43.1. July’s

Solid PMIs and new home sales nudges S&P 500 higher

The S&P 500 closed up 0.43% to 3,131.29 as manufacturing and services PMIs came in ahead of expectations. The US census bureau also announced firm new home sales numbers of 676,000 for May, which translates into a 16.6% month-on-month increase. Market expectations were for a 2.9% month-on-month increase in new home sales on April’s figure,