ISM Manufacturing Employment For July 44.4 Vs 48.0 Expected; 48.1 Prior
Portfolio Pulse from Benzinga Newsdesk
The ISM Manufacturing Employment index for July came in at 44.4, lower than the expected 48.0 and the prior month's 48.1.
August 04, 2023 | 8:37 am
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NEGATIVE IMPACT
The lower than expected ISM Manufacturing Employment index could potentially impact the SPY ETF, as it reflects broader market sentiment.
The ISM Manufacturing Employment index is a key economic indicator. A lower than expected figure suggests potential weakness in the manufacturing sector, which could negatively impact market sentiment and thus the SPY ETF, which tracks the S&P 500.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75