US Leading Index (MoM) For September -0.7% Vs -0.4% Est.; -0.5% Prior
Portfolio Pulse from Benzinga Newsdesk
The US Leading Index for September has reported a month-on-month decrease of 0.7%, which is worse than the estimated decrease of 0.4% and the prior decrease of 0.4%.
October 19, 2023 | 2:01 pm
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NEGATIVE IMPACT
The worse-than-expected decrease in the US Leading Index for September may negatively impact the SPY ETF, which tracks the S&P 500 index.
The US Leading Index is a key economic indicator that can influence the overall stock market. A worse-than-expected decrease suggests a potential slowdown in the economy, which could negatively impact the stock market and, by extension, the SPY ETF that tracks the S&P 500 index.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75