USA Factory Orders (MoM) For January -3.6% Vs -3.1% Est.; -0.3% Prior
Portfolio Pulse from Benzinga Newsdesk
USA Factory Orders for January saw a decrease of 3.6%, which is more than the estimated 3.1% decrease, and a significant drop from the previous month's 0.3% decrease.
March 05, 2024 | 3:01 pm
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The SPDR S&P 500 ETF Trust (SPY) may experience short-term negative impact due to worse-than-expected USA Factory Orders for January, indicating potential economic slowdown.
Factory orders are a key economic indicator. A larger-than-expected decrease suggests a potential slowdown in manufacturing and economic activity, which can lead to negative sentiment among investors and impact the broader market, as represented by SPY.
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