The U.S. service sector sentiment expanded in May, reversing April's decline. The ISM reported strong growth in business activity and new orders. Employment is still a challenge. Stocks hold gains but bond yields rise.
Brown-Forman shares dip as Q4 FY24 earnings reveal an 8% sales decline to $964M, missing estimates of $1.028B. Despite this, EPS of $0.56 beat expectations of $0.42. The company forecasts FY25 organic net sales and operating income growth of 2-4%.