S&P Global US Manufacturing PMI For October 50 Vs 49.5 Est.; 49.8 Prior
Portfolio Pulse from Benzinga Newsdesk
The S&P Global US Manufacturing PMI for October was reported at 50, beating the estimate of 49.5 and the prior figure of 49.8.
October 24, 2023 | 1:46 pm
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POSITIVE IMPACT
The S&P Global US Manufacturing PMI for October, which exceeded estimates, may have a positive impact on SPY.
The S&P Global US Manufacturing PMI is a key indicator of economic health. A higher than expected figure is generally seen as positive for the market, which could lead to an increase in the price of SPY, an ETF that tracks the S&P 500 index.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75