🇺🇸BREAKING: US ISM Manufacturing PMI just printed 53.3 for June.

A miss against the 54 expectation, and down from last month's 54. But here is what matters more than the headline miss.
This is the 20th consecutive month of overall economic expansion and the sixth straight month of manufacturing growth. The economy is not stalling. It is just growing slightly less fast than analysts expected.
The real number buried in the report is Prices, which came in at 73%, down sharply from May's 82.1% but still the 21st straight month of rising raw material costs. That is the tension the Fed is watching, an economy still growing, prices still rising, and a manufacturing sector running hot enough to keep inflation sticky.
Today the chips are bleeding, gold is surging, and the economy just printed its 20th straight expansion month.
The market is selling the AI trade. The economy is not cooperating with the panic.