Market Breadth Data******************************

Monday, October 05, 2026

ISM Services

ISM Services follow-up: headline **54.9** vs 55.4 prior — services aren't rolling over after the weak payrolls. But prices paid jumped to **74.0** from 72.6, the highest since July 2022 — the inflation tell the briefing flagged. 

Per Reuters, the two ISM surveys combined now support economists' expectations of a December Fed hike. 

Two more details: the employment sub-index flipped back into expansion at 50.1 (from 47.8), so no labor confirmation there either. And S&P Global's services final went the other way at 58.8, a five-year high — so the surveys disagree on how strong services really are. 

Net: October hold, December hike alive.
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