USA ISM Manufacturing Employment For September 51.2 Vs 48.3 Est.; 48.5 Prior
Portfolio Pulse from Benzinga Newsdesk
The USA ISM Manufacturing Employment index for September was reported at 51.2, higher than the estimated 48.3 and the prior month's 48.5.
October 02, 2023 | 2:02 pm
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POSITIVE IMPACT
The higher than expected USA ISM Manufacturing Employment index could potentially boost investor confidence in the overall economy, which may positively impact SPY.
The ISM Manufacturing Employment index is a leading indicator of economic health. A higher than expected reading is seen as positive for the economy, which could lead to increased investor confidence and potentially a rise in the SPY ETF, which tracks the S&P 500 and is a broad measure of the US stock market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75