USA ISM Non-Manufacturing PMI For September 54.9 Vs 51.7 Est.; 51.5 Prior
Portfolio Pulse from Benzinga Newsdesk
The USA ISM Non-Manufacturing PMI for September came in at 54.9, significantly higher than the estimated 51.7 and the previous month's 51.5. This indicates a stronger-than-expected expansion in the non-manufacturing sector.
October 03, 2024 | 2:00 pm
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POSITIVE IMPACT
The SPY ETF, which tracks the S&P 500, may see a positive impact due to the stronger-than-expected ISM Non-Manufacturing PMI, indicating economic expansion.
The ISM Non-Manufacturing PMI is a key economic indicator. A higher-than-expected reading suggests economic expansion, which is generally positive for the stock market. SPY, as an ETF tracking the S&P 500, is likely to benefit from this positive economic news.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80