🚨 🇺🇸 US BUSINESS GROWTH COOLS IN OCTOBER BUT FACTORIES BEAT FORECASTS S&P Global's flash composite PMI slipped to 57.6 from 58.4 in September. Services came in at 57.9 versus 58.0 expected, while manufacturing hit 56.0 against a 55.5 forecast. Every reading remains above 50, meaning businesses are expanding. Growth has slowed, not stopped. Factory strength shows demand has not faded across the economy. For the dollar and Treasuries, firm activity gives the Fed less reason to ease rates. Higher yields raise borrowing costs and challenge highly valued growth stocks.
