S&P Global US Manufacturing PMI For October 50 Vs 50 Est.; 49.8 Prior
Portfolio Pulse from Benzinga Newsdesk
The S&P Global US Manufacturing PMI for October was reported at 50, in line with estimates, and slightly higher than the previous month's figure of 49.8.
November 01, 2023 | 1:45 pm
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NEUTRAL IMPACT
The S&P Global US Manufacturing PMI for October, which matches estimates, may have a neutral impact on SPY as it indicates a stable manufacturing sector.
The S&P Global US Manufacturing PMI is a key indicator of the health of the manufacturing sector. A PMI of 50 indicates neither expansion nor contraction in the sector. As SPY tracks the S&P 500, which includes a broad range of companies from various sectors, a stable manufacturing sector may have a neutral impact on SPY.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75