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

ISM Services Data - October ISM services headline is strong at 524%, exceeding expectations [1] - The headline is 250 basis points above the previous reading, showing sequential strength [1] - This is the best reading since February of this year, when it was 535% [1] Prices Paid - Prices paid are moving upwards, reaching 700% [1] - This is above the expected 680% - 694% [1] - It represents the highest prices paid since October 2022 [2] New Orders - New orders are also well above expectations, reaching a notable 562% [2] - This marks the highest level in one year, dating back to October of the previous year [2] Employment - ADP employment data is better than expected, although not exceptionally strong, at 482% [3] - While still in contraction territory, it surpasses the previous 472% [3] - This is the best reading since May, when it was last in expansion territory at 507% [3] Market Reaction - Trading is at 414, up a few basis points, hovering near the highest closes since early October [3]