Factory Orders (MoM) For July 5.0% Vs 4.7% Est.; -3.3% Prior
Portfolio Pulse from Benzinga Newsdesk
Factory orders for July increased by 5.0%, surpassing the estimated 4.7% and recovering from a prior decline of 3.3%. This indicates a positive shift in manufacturing activity.
September 04, 2024 | 2:00 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) may see a positive impact as factory orders for July increased by 5.0%, exceeding expectations and indicating a rebound in manufacturing activity.
The increase in factory orders suggests a strengthening in the manufacturing sector, which could positively influence the broader market. SPY, as an ETF tracking the S&P 500, may benefit from this economic improvement.
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IMPORTANCE 60
RELEVANCE 50