ISM Manufacturing Employment For May 51.1 Vs 48.5 Est.; 48.6 Prior
Portfolio Pulse from Benzinga Newsdesk
The ISM Manufacturing Employment Index for May came in at 51.1, surpassing the estimated 48.5 and the prior month's 48.6. This indicates an expansion in manufacturing employment.
June 03, 2024 | 2:00 pm
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The ISM Manufacturing Employment Index for May exceeded expectations, which could positively impact the SPY ETF as it reflects overall economic health and manufacturing sector strength.
The better-than-expected ISM Manufacturing Employment Index suggests an improvement in the manufacturing sector, which is a positive indicator for the broader economy. This could lead to a short-term positive impact on SPY, which tracks the S&P 500 index.
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