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00:00It appears to me the services sector are doing quite well. Americans spending money in that category. Also interesting that it's happening around the world. Even with Germany in the p.m. ISE in Europe, all were above 50 for services. You look at the new orders, as you mentioned, sixty two point six. That probably tells us the most about where we're going. Plus, the employment one brings up an interesting question. Employment went up. We'll find out more when we get to the jobs report a week from today. But does that suggest that people in service industries are finding the employees that they need to find and that maybe then hiring will start to slow? That's something to keep an eye on. And of course, prices being the thing that everybody is watching, particularly the Fed. The fact that that doesn't really change very much is also a warning signal that at the beginning of February at least looks like what we saw in January. Hey, Mike, before we get to the question of the day, do we know where in services things are super strong? Haven't gotten that far in terms of a breakdown. But it does appear that we're seeing commodities. You know, there are commodities in the service industries up in price, much more than down in price. So things that go into the services, labor services, they say, they say, and that's going to be something that the Fed is watching.

Services in US Expanded More Than Forecast in February

The Institute for Supply Management’s gauge of services was little changed at 55.1, according to data out Friday. Mike McKee reports on "Bloomberg Markets." (Source: Bloomberg)

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