JUST IN — something important just hit the wires, and the market felt it.

The US ISM Manufacturing PMI just printed 52.6, and that’s above expectations. This isn’t a small miss or a rounding error. It’s a clear signal that US factories are still expanding, not slowing down like many were betting on.

Above 50 means growth. And at 52.6, it tells us orders are coming in, production is holding up, and businesses are still willing to spend. In simple terms, the engine is still running.

This matters because a stronger manufacturing sector makes the “soft landing” story harder to ignore. It also means the Federal Reserve has less pressure to rush into rate cuts. When the economy refuses to cool, policy stays tight for longer.

Markets don’t always react instantly to data like this. Sometimes the real impact shows up later — in yields, in the dollar, and in risk assets that suddenly feel heavier.

Right now, this number says one thing loud and clear:

The US economy is not done yet.

And anyone positioned for weakness needs to pay attention.