Services PMI from Markit for Aug 2020
- Highest since March 2019
- Prelim was 54.8
- Prior was 50.0
- Composite index 54.6 vs 54.7 prelim
- New orders rose at the quickest pace in a year
- Full release
This data adds a small upward bias to the ISM services index at the top of the hour. The consensus is 57.0. I suspect it would take a major miss to jar markets but watch the employment component for hints on what's coming in tomorrow's jobs report.
