Dallas Fed Texas Manufacturing Output Index -2.8 In May Vs 4.8 In April
Portfolio Pulse from Benzinga Newsdesk
The Dallas Fed Texas Manufacturing Output Index dropped to -2.8 in May from 4.8 in April, indicating a contraction in manufacturing activity.
May 28, 2024 | 2:31 pm
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The drop in the Dallas Fed Texas Manufacturing Output Index to -2.8 in May from 4.8 in April suggests a contraction in manufacturing activity, which could negatively impact the broader market sentiment.
The decline in the manufacturing index indicates a slowdown in economic activity, which could lead to negative sentiment in the broader market. SPY, being an ETF that tracks the S&P 500, may experience short-term pressure as a result.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50