USA ISM Non-Manufacturing Employment For September 48.1 Vs 50.2 Prior
Portfolio Pulse from Benzinga Newsdesk
The USA ISM Non-Manufacturing Employment Index for September decreased to 48.1 from 50.2 in the previous month, indicating a contraction in employment within the non-manufacturing sector.
October 03, 2024 | 2:00 pm
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NEGATIVE IMPACT
The decline in the ISM Non-Manufacturing Employment Index to 48.1 suggests a contraction in employment, which could negatively impact the broader market sentiment and SPY, an ETF that tracks the S&P 500.
The ISM Non-Manufacturing Employment Index is a key economic indicator. A reading below 50 indicates contraction, which can lead to negative market sentiment. SPY, as an ETF tracking the S&P 500, may be impacted by this sentiment.
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