US August Import Price Index 0.5% vs 0.3% Est., Export Price Index 1.3% vs 0.4% Est., NY Empire State Manufacturing Index (Sept.) 1.9 vs (10) Est.
Portfolio Pulse from Benzinga Newsdesk
The US Import Price Index for August was 0.5%, higher than the estimated 0.3%. The Export Price Index was 1.3%, significantly above the 0.4% estimate. The NY Empire State Manufacturing Index for September was 1.9, lower than the estimated 10.
September 15, 2023 | 12:34 pm
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NEGATIVE IMPACT
The higher than expected Import and Export Price Indices may indicate inflationary pressures, which could impact the SPY ETF. The lower than expected NY Empire State Manufacturing Index could suggest a slowdown in manufacturing, potentially affecting SPY.
The SPY ETF tracks the S&P 500 and is therefore sensitive to overall economic indicators. Higher import and export prices can signal inflation, which can lead to increased interest rates and potentially negatively impact stock prices. A lower manufacturing index can indicate a slowing economy, which can also negatively impact stock prices.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75