ISM Manufacturing Employment For Oct. 44.4 Vs 45.0 Est.; 43.9 Prior
Portfolio Pulse from Benzinga Newsdesk
The ISM Manufacturing Employment Index for October was reported at 44.4, below the estimated 45.0 and the previous month's 43.9. This indicates a contraction in manufacturing employment, which could impact market sentiment.
November 01, 2024 | 2:00 pm
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The ISM Manufacturing Employment Index for October came in at 44.4, below expectations. This contraction in manufacturing employment could negatively impact SPY as it reflects broader economic challenges.
SPY, as an ETF that tracks the S&P 500, is sensitive to economic indicators. The lower-than-expected ISM Manufacturing Employment Index suggests economic weakness, which could lead to a negative sentiment in the market, potentially impacting SPY's performance.
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