USA Factory Orders (MoM) For August -0.1% Vs 0.1% Est.; 5.0% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Factory Orders for August decreased by 0.1%, missing the estimated increase of 0.1% and down from the 5.0% growth in the previous month. This indicates a slowdown in manufacturing activity.
October 03, 2024 | 2:00 pm
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NEGATIVE IMPACT
The SPDR S&P 500 ETF (SPY) may experience short-term volatility due to the unexpected decline in USA Factory Orders for August, which suggests a slowdown in manufacturing activity.
The decline in factory orders suggests a potential slowdown in economic activity, which could impact the broader market sentiment. SPY, as a broad market ETF, may see volatility as investors react to this economic data.
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