Friday Markets Update (March 3, 2023)

06 Mar 2023 by rate3

On Friday daily trading sessions NASDAQ gained +1.4 percent (o:11524, c:11689). At the same time BTC were declining by -0.4 (o:22402, c:22308).

On March 3rd the ISM Services PMI remained stable at 55.1 in February, which is only slightly different from the January figure of 55.2 and above the expected value of 54.5. Notably, there were faster increases for new orders (62.6, which is the highest since November 2021 compared to 60.4 in January), new export orders (61.7 versus 59), and employment (54, the highest since December 2021 versus 50). Additionally, price pressures decreased (65.6 versus 67.8), and supplier deliveries fell (47.6, the fastest delivery performance since June 2009 compared to 50).