USA Factory Orders (MoM) For June -3.3% Vs -2.7% Est.; -0.5% Prior
Portfolio Pulse from Benzinga Newsdesk
USA Factory Orders for June decreased by 3.3%, which is worse than the estimated decline of 2.7% and significantly lower than the prior month's decrease of 0.5%.
August 02, 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 worse-than-expected decline in USA Factory Orders for June, which fell by 3.3% compared to the estimated -2.7% and the prior -0.5%.
The larger-than-expected 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 SPY ETF.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80