ISM Services PMI Slips to 54.9 as Tariffs and Fuel Costs Bite
IXIC sits 33% above its 52-week low of $20,690.249.
Summary
The September ISM Services PMI fell to 54.9 from 55.4, missing the 55.0 consensus and marking the first decline in three months. Tariffs and fuel costs were the most cited supply chain issues, with fuel mentioned twice as often as any other factor. The employment index returned to expansion at 50.1, but AI is starting to replace some workers. Prices paid hit 74.0, the highest since July 2022, signaling persistent inflation. This data adds to concerns about stagflation and could pressure the Nasdaq, which is trading near its 52-week high.
At the time of this announcement, IXIC was trading at $27,454.34 on NASDAQ in the Trade & Services sector. The 52-week trading range was $20,690.25 to $27,478.17. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Mace News.