USA ISM Manufacturing Prices For September 48.3 Vs 53.5 Est.; 54.0 Prior
Portfolio Pulse from Benzinga Newsdesk
The USA ISM Manufacturing Prices Index for September came in at 48.3, significantly lower than the estimated 53.5 and the previous month's 54.0. This indicates a decrease in manufacturing prices, which could impact market sentiment.
October 01, 2024 | 2:01 pm
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NEGATIVE IMPACT
The SPDR S&P 500 ETF (SPY) may experience short-term volatility due to the lower-than-expected ISM Manufacturing Prices Index, which suggests a decrease in manufacturing prices and potential economic slowdown.
The ISM Manufacturing Prices Index is a key economic indicator. A lower-than-expected reading suggests reduced manufacturing activity, which can lead to concerns about economic growth. This may cause short-term volatility in SPY as investors react to potential economic slowdown.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50