ISM non-manufacturing PMI comes in at 52.4 vs. 50.5 estimated

Core Insights - The ISM services index for October shows strong performance at 52.4%, significantly above expectations and marking the best result since February of this year [1] - Prices paid have increased to 70.0%, the highest since October 2022, indicating inflationary pressures [2] - New orders have also exceeded expectations at 56.2%, representing a one-year high [2] - Employment data from ADP indicates a slight improvement at 48.2%, although still in contraction territory, marking the best performance since May [3] - Current trading levels are around 414, reflecting a slight increase and some of the highest closes since early October [3]