Highlights of the June ISM non-manufacturing report:

  • Prior reading was 56.3
  • New orders 61.2 vs 60.5 — highest since Jan 2011
  • Employment 54.4 vs 52.4 prior – highest since Jan 2014
  • Prices paid 61.2 vs 61.4 prior

Some good signs in the details but there’s nothing here to give markets a second wind. The good employment component confirms strong NFP and ADP and new orders is good news for the months ahead. US traders will start heading to the exits in about an hour.

ISM nonmanufacturing index

ISM non-manufacturing index