Rick Santelli joins 'Squawk on the Street' with the latest economic data to cross the tape.

The ISM non-manufacturing Purchasing Managers' Index (PMI) registered a reading of 50, which was below the estimated 51.7 and represents the weakest result since May. This figure is also lower than the previous month's reading of 52. 

Other components of the report showed mixed results. Prices paid by services firms rose slightly to 69.4, higher than expected, while new orders dropped significantly to 50.4, missing forecasts. The employment component, though still below 50 at 47.2, improved compared to the previous reading. Despite these results, equity markets maintained their gains and interest rates declined over the week.

ISM non-manufacturing PMI comes in at 50 vs. 51.7 estimated

We are getting some breaking economic data right now. Not the jobs report, but Rick Santelli has that for us. Rick. Yes, ISM services. We had the PMI services and they were sequentially mixed, but they were still about 50. Here's a September read, 50 on the nose for the headline. That happens to be the weakest actually since May of this year when we had our sub 50 reading, the only one of the year at 49.9. And obviously it's sequentially lower than our last look for August, which was 52. On the prices paid, well, it's sequentially higher, but this is one of the components we'd rather have lower, 69.4 follows 69.2, warmer than expected as well. We were looking for a number closer to 68. On the new orders front, 50.4, big miss here. We were looking for a number somewhere around 54 and a half. Our last look was at 56. This is the weakest. Well, since July of 25, also the last time we were under 50. And finally, if we look at the service employment picture, especially on a week where we're void of the BLS report, but we had a week ADP report, comes in at 47.2. So this is interesting. It's the only reading here that's below 50, but it's better than we expected and it's sequentially higher than our last look at 46.5. It's somewhat nonplussed on the interest rate side, but once again, the equity's holding their gains. If we look at interest rates from a weekly perspective, which I think is important, right now at 409, we're down nine basis points on the week in tens. At 355, we're down nine basis points on the week in two-year as well. Mike Santoli, back to you.

Sarah Mullally has been named as the first female Archbishop of Canterbury in the 1,400-year history of the role, but her appointment immediately drew criticism from conservative Anglicans mainly based in Africa who oppose women bishops.

Canterbury

Church of England names first female archbishop

Israeli forces have intercepted the last vessel of an aid flotilla headed for Gaza. The convoy was in international waters, prompting accusations that Israel violated maritime law. Protests have been staged in cities around the world.

Middle East Conflict

Israel's interception of Gaza aid flotilla prompts protests

U.S. President Donald Trump said that he is issuing a Sunday evening deadline for Hamas to agree to a U.S. peace proposal, backed by the Israeli government, to end the war in Gaza.

Washington

Trump issues deadline for Hamas to reach ceasefire deal

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London

Prince William opens up about family, future plans for monarchy

The White House says the first round of mass layoffs resulting from the government shutdown could be announced on Friday. CBS News' Nancy Cordes reports.

Government shutdown mass layoffs could begin today, White House says

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Manchester

One victim likely killed by police during Manchester synagogue attack

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Sochi

Putin warns U.S. Tomahawk supply to Ukraine would trigger escalation

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Chernihiv

Ukraine Invasion

Russia, Ukraine exchange 185 prisoners of war in latest swap

Two Jewish men were killed and three other men were seriously injured in a terror attack outside a synagogue in the northern English city of Manchester, authorities said.

Two killed in U.K. terror attack outside synagogue on Yom Kippur

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Trump declares U.S. in 'armed conflict' with drug cartels

The head of the Dwight D. Eisenhower Presidential Presidential Library has resigned after sources say he resisted a request from the Trump administration to give a sword from the library's collection to King Charles.

Abilene

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LaGuardia Airport

Two regional jets collide on tarmac at New York's LaGuardia Airport

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Los Angeles

Jane Goodall, chimpanzee researcher and conservationist, dies at 91

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Doha

Trump signs executive order protecting Qatar after Israeli strike

The Israeli military is pressing on with its offensive in Gaza, launching strikes across the territory, as Hamas weighs up its response to the U.S. peace proposal. Debora Patta reports.

Jerusalem

Israel continues Gaza offensive as Hamas weighs U.S. peace deal

The Supreme Court has added another blockbuster case to its new term of cases. The court announced it would hear whether President Trump can legally fire Federal Reserve Governor Lisa Cook. Jessica Levinson has more.

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Odesa Oblast

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Kabul

Afghanistan imposes internet blackout

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Hamas under pressure as Trump issues deadline on Gaza peace plan

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Trump threatens to train military in U.S. cities

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Cebu

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U.S. President Donald Trump and lawmakers failed to reach a funding deal, causing the government to shut down Wednesday. Tens of thousands of federal workers will be told to stay home – furloughed without pay.

U.S. government shuts down after lawmakers fail to reach funding deal

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Quantico

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Imelda is now a Category 1 hurricane, threatening dangerous weather conditions on the East Coast alongside Hurricane Humberto. CBS News' Rob Marciano has more details.

Folly Beach

Imelda becomes hurricane, threatens dangerous conditions on East Coast

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Breakdown