S&P Global Services PMI For October 55.3 Vs 55.0 Est.; 55.2 Prior
Portfolio Pulse from Benzinga Newsdesk
The S&P Global Services PMI for October came in at 55.3, slightly above the estimated 55.0 and the prior month's 55.2, indicating a modest expansion in the services sector.
October 24, 2024 | 1:45 pm
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POSITIVE IMPACT
The S&P Global Services PMI for October was reported at 55.3, slightly above expectations and the previous month's figure. This suggests a modest expansion in the services sector, which could positively influence the SPY ETF as it tracks the S&P 500 index, reflecting overall economic health.
The S&P Global Services PMI is a key economic indicator. A reading above expectations suggests economic expansion, which can positively impact the SPY ETF as it reflects the performance of the S&P 500 index. This news is moderately relevant to SPY as it indicates economic health.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50