Stock Market Update
03-Sep-26 10:30 ET
August ISM Services PMI
Dow +275.59
at 53337.54,
Nasdaq +230.40
at 26469.28,
S&P +36.96
at 7703.56
[BRIEFING.COM] Stocks continue to trade mostly higher this morning, with the S&P 500 (+0.5%), Nasdaq Composite (+0.9%), and DJIA (+0.6%) holding on to solid gains. The Nasdaq Composite is now in positive week-to-date territory, while the S&P 500 and DJIA hold just modest losses for the week.
The ISM Services PMI increased to 55.4% in August (Briefing.com consensus: 54.1%) from 54.1% in July. The dividing line between expansion and contraction is 50.0%, so the August reading reflects services sector activity growing at a faster pace than the prior month.
The key takeaway from the report is that it shows services organizations haven't seen any relief in the prices they are paying for materials and services. That invites the risk of pass-through to customers and sustained inflation issues.
