Dallas Fed Services Revenues For May 6.9 Vs 4.2 Est.; 6.9 Prior
Portfolio Pulse from Happy Mohamed
Dallas Fed Services Revenues for May reported at 6.9, higher than the estimated 4.2 and equal to the prior month's figure.
May 31, 2023 | 2:32 pm
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POSITIVE IMPACT
Dallas Fed Services Revenues for May beat estimates, indicating a positive economic outlook, which may have a positive impact on the SPY ETF.
The Dallas Fed Services Revenues report is an indicator of the economic health of the service sector. A higher-than-expected figure suggests a positive outlook for the economy, which may lead to a positive impact on the stock market and the SPY ETF, as it tracks the performance of the S&P 500 index.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50