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But we saved everything 🙂.
U.S. business activity experienced a decline amid higher inflation and ongoing war in the Middle East, according to a tweet by Sam Ro referencing the S&P U.S. Services PMI.
Additionally, employment numbers fell alongside the weakest rise in new work seen in nearly two years, pointing to increased pressures within the U.S. services sector.
Sam Ro has recently highlighted Exxon Mobil’s forward price-to-earnings ratio rising above Nvidia’s, with U.S. energy stocks nearly matching S&P 500 valuations, in a separate post here. He has also covered a new Deutsche Bank index that tracks market movements, inflation expectations, and U.S. presidential approval here. Ro's coverage spans a range of indicators affecting U.S. economic sentiment.