USA ISM Non-Manufacturing Employment For June 53.1 Vs 49.9 Est.; 49.2 Prior
Portfolio Pulse from Happy Mohamed
The USA ISM Non-Manufacturing Employment index for June came in at 53.1, beating the estimate of 49.9 and the prior figure of 49.2.
July 06, 2023 | 2:01 pm
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POSITIVE IMPACT
The SPY ETF, which tracks the S&P 500, may be impacted by the better-than-expected ISM Non-Manufacturing Employment index as it indicates a healthier economy.
The ISM Non-Manufacturing Employment index is a leading indicator of the overall health of the economy. A higher than expected reading is generally seen as positive for the economy, which can lead to a positive impact on the stock market and ETFs like SPY that track major indices.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75