USA Leading Index (MoM) For June -0.7% Vs -0.6% Est.; -0.6% Prior
Portfolio Pulse from Happy Mohamed
The USA Leading Index for June has reported a month-on-month decrease of 0.7%, which is worse than the estimated decrease of 0.6% and the prior decrease of 0.6%.
July 20, 2023 | 2:00 pm
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NEGATIVE IMPACT
The worse than expected decrease in the USA Leading Index for June may negatively impact the SPY ETF, which tracks the S&P 500 index.
The USA Leading Index is a key economic indicator that can influence the overall stock market. A worse than expected decrease suggests a potential slowdown in the economy, which could negatively impact the stock market and, by extension, the SPY ETF which tracks the S&P 500 index.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75