---
title: A solid rise in ISM Service dampens growth scare in markets a bit and is another sign that we are currently facing a technical
description: "positioning driven correction instead of one led by hard landing fears. \nThe main ISM services index and orders recorded solid bounce. Meanwhile, the Employment Index is up to highest level for the year. \nNote that the ISM has been quite volatile and should this not be overemphasized. \nNevertheless, it seems premature to call a recession at this stage. Consider that earnings are up 12% YOY vs consensus of 9%. That doesn't happen at a Recession turning point.\n\nSource: Rishi Mishra, Ram Ahluwalia"
---

[Syz The Moment](https://blog.syzgroup.com/syz-the-moment)

# [A solid rise in ISM Service dampens growth scare in markets a bit and is another sign that we are currently facing a technical](https://blog.syzgroup.com/syz-the-moment/do-you-remember-hashtagmoderna-mrna-0-0-0-0-0-1-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0)

 Written by [Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/syz-the-moment/author/charles-henry-monchau) | Aug 6, 2024, 8:19:51 AM

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