ISM Non-Manufacturing New Orders For March 54.4 Vs 55.5 Est.; 56.1 Prior
Portfolio Pulse from Benzinga Newsdesk
The ISM Non-Manufacturing New Orders index for March reported a figure of 54.4, which is below the estimated 55.5 and the previous month's 56.1.
April 03, 2024 | 2:01 pm
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NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) may experience short-term volatility due to the lower-than-expected ISM Non-Manufacturing New Orders index for March.
The ISM Non-Manufacturing New Orders index is a key economic indicator that reflects the health of the non-manufacturing sector. A lower-than-expected figure suggests a potential slowdown in economic activity, which can lead to market volatility and negatively impact investor sentiment towards assets like SPY.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80