Michigan Consumer Expectations For June 67.6 Vs 70.0 Est.; 68.8 Prior
Portfolio Pulse from Benzinga Newsdesk
Michigan Consumer Expectations for June came in at 67.6, below the estimated 70.0 and the prior 68.8.
June 14, 2024 | 2:00 pm
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NEGATIVE IMPACT
The Michigan Consumer Expectations for June fell to 67.6, below the estimated 70.0 and the prior 68.8. This could indicate weaker consumer sentiment, potentially impacting the broader market and SPY.
The lower-than-expected consumer expectations suggest a potential decline in consumer spending, which could negatively impact the broader market. SPY, being an ETF that tracks the S&P 500, may see a short-term decline as a result.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80