USA ISM Non-Manufacturing Employment For August 50.2 Vs 50.5 Est.; 51.1 Prior
Portfolio Pulse from Benzinga Newsdesk
The USA ISM Non-Manufacturing Employment Index for August came in at 50.2, slightly below the estimated 50.5 and down from the previous 51.1. This indicates a slower growth in the non-manufacturing employment sector.
September 05, 2024 | 2:00 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) may experience slight volatility due to the lower-than-expected ISM Non-Manufacturing Employment Index, indicating slower growth in the non-manufacturing sector.
The ISM Non-Manufacturing Employment Index is a key economic indicator. A lower-than-expected reading suggests slower growth, which can impact market sentiment. SPY, as a broad market ETF, may see some volatility, but the impact is not expected to be significant.
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RELEVANCE 50