Factory Orders (MoM) For August 1.2% Vs 0.2% Est.; -2.1% Prior
Portfolio Pulse from Benzinga Newsdesk
Factory orders for August increased by 1.2%, significantly higher than the estimated 0.2% and a substantial improvement from the previous month's decline of 2.1%.
October 04, 2023 | 2:01 pm
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POSITIVE IMPACT
The better-than-expected factory orders data for August may have a positive impact on the SPY ETF, as it indicates a stronger economy.
Factory orders are a key indicator of economic health. The significant increase in August suggests a stronger economy, which is generally positive for the stock market and ETFs like SPY that track it.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75