US Industrial Production MoM For May 0.9% Vs 0.3% Est; 0.0% Prior
Portfolio Pulse from Benzinga Newsdesk
US Industrial Production for May increased by 0.9%, significantly higher than the estimated 0.3% and the previous month's 0.0%.
June 18, 2024 | 1:21 pm
News sentiment analysis
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POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) is likely to see a positive impact due to the significant increase in US Industrial Production for May, which suggests economic growth.
The SPY ETF, which tracks the S&P 500, is likely to benefit from the positive economic data indicating growth in industrial production. This can lead to increased investor confidence and potentially higher stock prices.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50