NY Empire State Manufacturing Index For July 1.10 Vs -4.30 Est.; 6.60 Prior
Portfolio Pulse from Happy Mohamed
The New York Empire State Manufacturing Index for July came in at 1.10, beating the estimated -4.30 and showing an improvement from the prior figure of 6.60.
July 17, 2023 | 12:30 pm
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POSITIVE IMPACT
The positive manufacturing index could boost investor confidence in the overall market, potentially impacting SPY.
The NY Empire State Manufacturing Index is a key indicator of economic health. A higher than expected figure is generally seen as positive for the market, which could lead to an increase in the SPY ETF, which tracks the S&P 500.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50