S&P Global Services PMI For October 50.6 Vs 50.9 Est.; 50.1 Prior
Portfolio Pulse from Benzinga Newsdesk
The S&P Global Services PMI for October was reported at 50.6, slightly below the estimated 50.9, but higher than the prior month's 50.1.
November 03, 2023 | 1:46 pm
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NEUTRAL IMPACT
The S&P Global Services PMI for October, 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 Services PMI is an important economic indicator that can influence market sentiment. Although the October figure is slightly below estimates, it is higher than the previous month, indicating an improvement in the services sector. This could have a neutral to slightly positive impact on SPY, which tracks the S&P 500 index.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75