ISM Manufacturing PMI Edges Down to 53.3 in June; Prices Index Posts Biggest Drop Since 2022
- The Institute for Supply Management's June Manufacturing PMI came in at 53.3, a sixth straight month of expansion but below the 53.8 consensus and May's 54.0, per ISM (https://www.ismworld.org).
- New orders and production slowed, while the Prices Index recorded its largest single-month drop since 2022, easing inflation pressure concerns; the print helped push the S&P 500 up modestly to ~7,504 and lifted gold futures to ~$4,082/oz.
- Markets were already digesting Fed Chair Warsh's ECB Forum remarks, with traders wary of a possible 2026 rate hike despite cooling pricing data.