USA Factory Orders (MoM) For June 2.3% Vs 2.2% Est.; 0.4% Prior
Portfolio Pulse from Happy Mohamed
USA Factory Orders for June increased by 2.3%, beating the estimated 2.2% and significantly higher than the prior 0.4%.
August 04, 2023 | 1:42 pm
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POSITIVE IMPACT
The increase in USA Factory Orders for June, which exceeded estimates, may have a positive impact on the SPY ETF, as it reflects a stronger economy.
Factory orders are a key indicator of economic health. An increase in factory orders suggests a stronger economy, which generally leads to a rise in stock market indices like SPY. Therefore, the news is likely to have a positive impact on SPY in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50