S&P Global Composite PMI For October 50.7 Vs 51.0 Est.; 50.2 Prior
Portfolio Pulse from Benzinga Newsdesk
The S&P Global Composite PMI for October was reported at 50.7, slightly below the estimated 51.0 and higher than the previous month's 50.2.
November 03, 2023 | 1:45 pm
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NEUTRAL IMPACT
The S&P Global Composite PMI, which is slightly below estimates but higher than the previous month, may have a neutral to slightly positive impact on SPY.
The S&P Global Composite PMI is a key economic indicator that can influence market sentiment. Although the October PMI came in slightly below estimates, it was higher than the previous month, indicating an expansion in the global economy. This could have a neutral to slightly positive impact on SPY, which tracks the S&P 500 index.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 75