Michigan Consumer Expectations For October 59.3 Vs 60.7 Est.; 66.0 Prior
Portfolio Pulse from Benzinga Newsdesk
Michigan Consumer Expectations for October came in at 59.3, lower than the estimated 60.7 and the prior figure of 66.0.
October 27, 2023 | 2:00 pm
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NEGATIVE IMPACT
The lower than expected Michigan Consumer Expectations could potentially impact the SPY ETF, as it reflects overall consumer sentiment which is a key economic indicator.
Consumer expectations are a key economic indicator that can influence the stock market. A lower than expected figure suggests that consumers may be less optimistic about the economy, which could lead to reduced spending and slower economic growth. This could potentially have a negative impact on the SPY ETF, which tracks the S&P 500 and is therefore influenced by overall economic conditions.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75