Factory Orders MoM For May 0.3% Vs 0.8% Expected; 0.3% Prior
Portfolio Pulse from Benzinga Newsdesk
Factory orders for May came in at 0.3%, lower than the expected 0.8% and the prior figure of 0.4%.
July 05, 2023 | 2:00 pm
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The lower than expected factory orders could potentially impact the overall market, represented by SPY.
Factory orders are a key economic indicator. Lower than expected figures suggest a slowdown in the manufacturing sector, which could potentially impact the overall market and thus the SPY ETF, which tracks the S&P 500.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 75