ETF Strategy Positions + ISM Misleading?

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Welcome to The Observatory. The Observatory is how we at Prometheus monitor the evolution of both the economy and financial markets in real-time. Here are the top developments that stand out to us:

i. ISM Services came in lower but outperformed expectations. The latest ISM Services data showed an expansionary reading of 55.9, implying 8% YoY earnings for the S&P 500.

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