USA Industrial Production (MoM) For June 0.6% Vs 0.3% Est.; 0.9% Prior
Portfolio Pulse from Benzinga Newsdesk
USA Industrial Production for June increased by 0.6%, surpassing the estimated 0.3% and following a 0.9% rise in the previous month.
July 17, 2024 | 1:16 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) may see a positive impact due to the better-than-expected industrial production data for June, which indicates stronger economic activity.
The better-than-expected industrial production data suggests stronger economic activity, which is generally positive for the broader market. As SPY tracks the S&P 500, it is likely to benefit from this positive economic indicator.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50