S&P Global Composite PMI For October 51.0 Vs 50.2 Prior
Portfolio Pulse from Benzinga Newsdesk
The S&P Global Composite PMI for October has increased to 51.0 from 50.2 in the previous month.
October 24, 2023 | 1:45 pm
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POSITIVE IMPACT
The increase in the S&P Global Composite PMI may have a positive impact on SPY as it indicates an expansion in the global economy.
The S&P Global Composite PMI is a leading indicator of economic health. A reading above 50 signals expansion in the global economy, which is generally positive for stocks and ETFs like SPY that track global markets.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80