Weak manufacturing measures raise specter of U.S. economic slowdown
Publishing timestamp: 2024-09-03 12:10:41
Summary
The ISM monthly survey of purchasing managers showed weak economic readings in August, with U.S. factories remaining in slowdown mode. This has raised the probability of the Federal Reserve cutting interest rates later this month. Stocks declined following the release of the ISM report, with traders now raising the odds of a more aggressive rate cut.
Sentiment: NEGATIVE
Tickers: .DJI,
Keywords: economy, inflation, dow jones industrial average, business news, breaking news: economy,