USA S&P Global US Manufacturing PMI For October 48.5 Vs 47.8 Est.; 47.8 Prior
Portfolio Pulse from Benzinga Newsdesk
The S&P Global US Manufacturing PMI for October was reported at 48.5, surpassing the estimated 47.8 and the prior month's figure of 47.8. This indicates a slight improvement in the manufacturing sector.
November 01, 2024 | 1:45 pm
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The S&P Global US Manufacturing PMI for October was higher than expected, which could positively impact the SPDR S&P 500 ETF (SPY) as it reflects a slight improvement in the manufacturing sector.
The SPY ETF tracks the S&P 500, which includes companies from the manufacturing sector. A better-than-expected PMI suggests improved conditions, potentially boosting investor sentiment and SPY's performance.
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