ISM Manufacturing Prices For August 54.0 Vs 52.1 Est.; 52.9 Prior
Portfolio Pulse from Benzinga Newsdesk
The ISM Manufacturing Prices Index for August rose to 54.0, surpassing the estimated 52.1 and the previous month's 52.9. This indicates an increase in manufacturing prices, which could impact inflation expectations and market sentiment.
September 03, 2024 | 2:00 pm
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The rise in ISM Manufacturing Prices Index to 54.0 may affect SPY as it indicates potential inflationary pressures, influencing market sentiment and possibly leading to volatility in the short term.
The increase in manufacturing prices suggests inflationary pressures, which can affect market sentiment and lead to volatility in broad market indices like SPY. However, the direct impact on SPY is uncertain as it depends on broader market reactions.
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