Michigan Current Conditions For October 66.7 Vs 70.4 Est.; 71.4 Prior
Portfolio Pulse from Benzinga Newsdesk
The Michigan Current Conditions for October came in at 66.7, lower than the estimated 70.4 and the prior figure of 71.4.

October 13, 2023 | 2:01 pm
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NEGATIVE IMPACT
The lower than expected Michigan Current Conditions could potentially impact the SPY ETF, as it reflects a weaker economic sentiment.
The Michigan Current Conditions is a key economic indicator that reflects consumer sentiment and expectations about the economy. A lower than expected figure suggests weaker economic sentiment, which could potentially impact the stock market and ETFs like SPY that track the market.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50