USA ISM Manufacturing PMI For October 46.5 Vs 47.6 Est.; 47.2 Prior
Portfolio Pulse from Benzinga Newsdesk
The USA ISM Manufacturing PMI for October came in at 46.5, below the estimated 47.6 and the prior 47.2, indicating a contraction in the manufacturing sector.
November 01, 2024 | 2:00 pm
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The SPDR S&P 500 ETF (SPY) may experience short-term volatility due to the lower-than-expected ISM Manufacturing PMI, which suggests a contraction in the manufacturing sector.
The ISM Manufacturing PMI is a key economic indicator. A reading below 50 suggests contraction, which can negatively impact investor sentiment and lead to short-term volatility in broad market ETFs like SPY.
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