USA Factory Orders (MoM) For September 2.8% Vs 2.4% Est.; 1.0% Prior
Portfolio Pulse from Benzinga Newsdesk
USA Factory Orders for September increased by 2.8%, surpassing the estimated 2.4% and the prior 1.0%.
November 02, 2023 | 2:00 pm
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POSITIVE IMPACT
The increase in USA Factory Orders for September may positively impact the SPY ETF, as it indicates a stronger than expected economy.
Factory orders are a key indicator of economic health. A higher than expected increase suggests a stronger economy, which is generally positive for broad market ETFs like SPY.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75