USA Industrial Production (MoM) For January -0.1% Vs 0.2% Est.; 0.1% Prior
Portfolio Pulse from Benzinga Newsdesk
USA Industrial Production for January decreased by 0.1%, missing the estimated increase of 0.2% and showing a decline from the prior month's 0.1% increase.
February 15, 2024 | 2:15 pm
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NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) may experience short-term volatility due to the unexpected decline in USA Industrial Production for January.
As SPY tracks the performance of the S&P 500, which includes industrial companies, lower than expected industrial production figures can negatively impact investor sentiment towards these companies, potentially leading to a decrease in SPY's price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75