S&P Global Services PMI For September 50.1 Vs 50.2 Est.; 50.5 Prior
Portfolio Pulse from Benzinga Newsdesk
The S&P Global Services PMI for September was reported at 50.1, slightly below the estimated 50.2 and the prior figure of 50.5.
October 04, 2023 | 1:45 pm
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NEUTRAL IMPACT
The S&P Global Services PMI for September, which came in slightly below estimates, may have a neutral to slightly negative impact on SPY in the short term.
The S&P Global Services PMI is a key economic indicator that can influence market sentiment. While the September figure is slightly below estimates, it is still above the 50 mark, indicating expansion in the services sector. This could have a neutral to slightly negative impact on SPY, which tracks the S&P 500 index, as investors digest the data.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 75