ISM Non-Manufacturing Prices For October 58.6 Vs 56.6 Est.; 58.9 Prior
Portfolio Pulse from Benzinga Newsdesk
The ISM Non-Manufacturing Prices for October came in at 58.6, higher than the estimated 56.6, but slightly lower than the previous month's 58.9.
November 03, 2023 | 2:00 pm
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The higher-than-expected ISM Non-Manufacturing Prices for October may indicate a stronger economy, which could potentially boost the SPY ETF.
The ISM Non-Manufacturing Prices Index measures business sentiment regarding future inflation. A higher-than-expected reading can be seen as positive for the economy, which could lead to a rise in the SPY ETF, which tracks the S&P 500 and is a good indicator of the overall US stock market.
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