Richmond Manufacturing Index For May 0 Vs -6 Est.; -7 Prior
Portfolio Pulse from Benzinga Newsdesk
The Richmond Manufacturing Index for May came in at 0, which is better than the estimated -6 and the prior -7.
May 29, 2024 | 2:00 pm
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POSITIVE IMPACT
The Richmond Manufacturing Index for May improved to 0, surpassing the estimated -6 and the previous -7. This positive data could boost investor sentiment towards the broader market.
The Richmond Manufacturing Index is a key economic indicator. An improvement from -7 to 0, beating estimates, suggests a stabilizing manufacturing sector, which could positively impact the broader market and ETFs like SPY.
CONFIDENCE 80
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