Catalyst: Bond yields rebound, approaching 2023 highs; breakout nears….This Apple report should be it for the Tech bubble.

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ISM and PMI Point to Slowing Growth, Sticky Inflation and Stagflation Threat

U.S. service sector indicators fell in July, raising concerns of a slowdown. ISM Services dropped to a six-month low, and PMI Services also decreased. Rising living costs, higher interest rates, and decreased domestic demand are causing businesses to pull back on hiring. Coupled with stubbornly high inflation and increased wages, this downturn signals a risk of stagflation in the U.S. economy.

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