Stock Market Update
05-Aug-26 10:30 ET
ISM Services PMI
Dow +585.27
at 54671.15,
Nasdaq +41.56
at 26647.57,
S&P +34.04
at 7770.56
[BRIEFING.COM] The S&P 500 (+0.4%), Nasdaq Composite (+0.3%), and DJIA (+1.1%) trade in a relatively stable range. There is some early volatility in semiconductor stocks (the PHLX Semiconductor Index is now down 0.8%), and several more defensive-oriented sectors hold losses, but the broader market largely maintains its early gains.
The ISM Services PMI edged up to 54.1% in July (Briefing.com consensus: 54.7%) from 54.0% in June. The dividing line between expansion and contraction is 50.0%, so the July reading reflects services sector activity growing at roughly the same pace as the prior month.
The key takeaway from the report is the understanding that services sector activity continues to run at a solid pace despite the persistence of ongoing cost pressures.
