USA ISM Manufacturing Employment For July 43.4 Vs 49.0 Est. 49.3 Prior
Portfolio Pulse from Benzinga Newsdesk
The USA ISM Manufacturing Employment Index for July came in at 43.4, significantly below the estimated 49.0 and the prior 49.3. This indicates a contraction in manufacturing employment.
August 01, 2024 | 2:00 pm
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NEGATIVE IMPACT
The USA ISM Manufacturing Employment Index for July fell to 43.4, indicating a contraction in manufacturing employment. This could negatively impact the broader market sentiment, affecting SPY.
The significant drop in the ISM Manufacturing Employment Index suggests a contraction in manufacturing employment, which could lead to broader market concerns about economic health, potentially impacting SPY negatively in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80