ISM Services was strong. Goods-Producing HighlightsNatural resources/mining 69,000Construction 97,000Manufacturing -42,000Service-Providing HighlightsTrade/transportation/utilities 90,000Information -30,000Financial activities -16,000Professional/business services -5,000Education/health services 74,000Leisure/hospitality 232,000Other services 28,000Key CommentsJob creation surged in June, led by consumer-facing services. “Consumer-facing service industries had a strong June, aligning to push job creation higher than expected,” said Nela Richardson, chief economist, ADP. ADP Report Adds to the DivergencesManufacturing, Information, Financial Activities, and professional and Business Services are all struggling according to this report. Bond yields are up across the board with the 10-year yield, 5-year yield, and 30-year yield up 11, 14, and 10 basis points respectively.

Source: Wall Street Journal July 07, 2023 05:20 UTC