USA Chicago Fed National Activity For June -0.32 Vs 0.03 Est.; -0.15 Prior
Portfolio Pulse from Happy Mohamed
The USA Chicago Fed National Activity for June came in at -0.32, lower than the estimated 0.03 and the prior figure of -0.15.
July 24, 2023 | 12:30 pm
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NEGATIVE IMPACT
The lower than expected USA Chicago Fed National Activity for June may negatively impact the SPY ETF in the short term.
The USA Chicago Fed National Activity Index is a broad-based economic indicator. A lower than expected figure suggests a slowdown in economic activity, which can negatively impact the overall market sentiment and thus the SPY ETF, which tracks the S&P 500 index.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75