The ISM Services PMI edged up to 54.1% in July, marginally missing the market consensus estimate of 54.5%. Released this morning by the Institute for Supply Management (ISM), the headline index ticks up slightly from June's 54.0%, marking the 25th consecutive month of overall expansion for the U.S. services economy. 

The S&P Global U.S. Services PMI climbed to 54.6 in July, beating the consensus market forecast of 53.6. Released this morning by S&P Global, the final reading accelerates from June's 53.6, marking the strongest pace of expansion in the service economy in nine months. 

U.S. private sector employment increased by 44,000 jobs in July, missing the consensus market forecast of roughly 65,000 to 68,000. Released this morning by the ADP Research Institute, the data reflects a sharp deceleration from June's downwardly revised gain of 95,000 jobs, signaling that the labor market is losing substantial momentum. 

U.S. factory orders dipped unexpectedly in June, underscoring a marginal contraction that missed optimistic analyst forecasts. According to the latest data, the headline decline follows a previously reported 1.3% drop in May. 

The U.S. job openings were little changed at 7.359 million in June, while the job openings rate held steady at 4.4%. According to the official U.S. Bureau of Labor Statistics (BLS) report released this morning, labor market demand stabilized following a downwardly revised 7.5 million positions in May. 

The U.S. advance international trade deficit in goods narrowed to $101.5 billion in June, contracting 4.2% from a 14-month high of $105.9 billion in May. This narrowing occurred because imports fell at a faster rate than exports, according to data from the U.S. Census Bureau.