USA ISM Non-Manufacturing Employment For July 51.1 Vs 46.4 Est.; 46.1 Prior
Portfolio Pulse from Benzinga Newsdesk
The USA ISM Non-Manufacturing Employment Index for July came in at 51.1, significantly higher than the estimated 46.4 and the prior 46.1. This indicates a stronger-than-expected performance in the non-manufacturing employment sector.
August 05, 2024 | 2:00 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) is likely to see a positive impact due to the stronger-than-expected ISM Non-Manufacturing Employment Index for July, which came in at 51.1 versus the estimated 46.4 and prior 46.1.
A stronger-than-expected ISM Non-Manufacturing Employment Index suggests a healthier economy, which generally boosts investor confidence and can lead to a rise in stock prices, including broad market ETFs like SPY.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80