Stock Market Nerd Macro – December 8, 2023

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Stock Market Nerd Macro – December 8, 2023

Output and Consumption

  • The S&P Global Composite Purchasing Managers Index (PMI) for November was 50.7 as expected and stable last month.
  • Services PMI was 50.8 as expected and vs. 50.6 last month.
  • Institute of Supply Management (ISM) Non-Manufacturing PMI for November was 52.7 vs. 52 expected and 51.8 last month.
  • Atlanta Fed GDP Now estimates for Q4 sit at 1.3%.


  • JOLTs Job Openings for October were 8.73 million vs. 9.3 million expected and 9.35 million in the previous month.
  • ADP Nonfarm Employment Change for October was 103,000 vs. 130,000 expected and 106,000 last month.


  • ISM Non-Manufacturing Prices for November came in at 58.3 vs. 58 expected and 58.6 last month.
  • Unit Labor Costs for Q3 fell 1.2% vs. -0.9% expected and 2.6% in the previous quarter.
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