USA ISM Manufacturing Prices For October 54.8 Vs 49.9 Est.; 48.3 Prior
Portfolio Pulse from Benzinga Newsdesk
The USA ISM Manufacturing Prices Index for October rose to 54.8, surpassing the estimated 49.9 and the previous month's 48.3. This indicates an increase in manufacturing prices, which could impact inflation expectations and interest rate decisions.
November 01, 2024 | 2:00 pm
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The rise in the ISM Manufacturing Prices Index to 54.8 may lead to increased inflation expectations, potentially affecting SPY as it reflects the broader market. Higher inflation could lead to interest rate hikes, impacting stock prices.
The SPY ETF, which tracks the S&P 500, could be impacted by the rise in manufacturing prices as it may lead to higher inflation expectations. This could result in interest rate hikes by the Federal Reserve, which typically negatively affects stock prices.
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