S&P Global Services PMI For June 55.3 Vs 55.1 Est.; 54.8 Prior
Portfolio Pulse from Benzinga Newsdesk
The S&P Global Services PMI for June came in at 55.3, surpassing the estimated 55.1 and the prior month's 54.8. This indicates a stronger-than-expected expansion in the services sector.
July 03, 2024 | 1:45 pm
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POSITIVE IMPACT
The S&P Global Services PMI for June exceeded expectations, which could positively impact the SPDR S&P 500 ETF (SPY) as it reflects stronger economic activity in the services sector.
The better-than-expected PMI suggests robust economic activity, which is likely to boost investor confidence and positively impact the SPY ETF.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80