USA Factory Orders MoM For May -0.5% Vs 0.2% Est.; 0.4% Prior
Portfolio Pulse from Benzinga Newsdesk
USA factory orders for May decreased by 0.5%, missing the estimated increase of 0.2% and down from the 0.4% increase in the prior month.
July 03, 2024 | 2:00 pm
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NEGATIVE IMPACT
The SPDR S&P 500 ETF (SPY) may experience short-term volatility due to the unexpected decline in USA factory orders for May, which fell by 0.5% against an estimated increase of 0.2%.
The decline in factory orders suggests a potential slowdown in economic activity, which could negatively impact investor sentiment and lead to short-term volatility in the SPDR S&P 500 ETF (SPY).
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80