Leading Indicator Watch | July 7, 2023

AUTHOR: Kerry Hilsabeck, CFP®
TITLE:       Investment Adviser Rep
TAGS:   Jobs, Yield Curve, Manufacturing, Services, S&P 500

While continuing Jobless Claims fell to 1,720k from 1,733k. Initial jobless claims rose to 248k from 236k and NonFarm payrolls painted the employment picture this week with 209k jobs added (Jun) compared to forecasts of 225k. Next, ISM Manufacturing PMI and ISM Non-Manufacturing PMI (Services) told two different stories, with the former dragging downward to 46 (Jun) from 46.9 (May) and the latter rising to 53.9 (Jun) from 50.3 (May). 50 marks contraction/expansion territory.

Lastly, be sure to check out more of last week’s leading indicators here and stay tuned for Market Thoughts.

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