US Manufacturing Accelerated in October: ISM PMI Exceeded Expectations

Growth momentum in the US manufacturing sector increased in October. The ISM Manufacturing Purchasing Managers' Index (PMI) rose by 1 point compared to the previous month to 55.5, surpassing market expectations. The index remaining above 50 indicates expansion in the sector. In the same period, the production sub-index reached 59, confirming the vitality in manufacturing activities. This strong performance on the production side shows that the sector generally exhibited a positive performance in October. On the other hand, S&P Global's manufacturing PMI data was revised downward. This revision points to some divergence between the signals of two different surveys regarding the manufacturing sector. The ISM data exceeding expectations stood out as an indicator that the manufacturing industry recorded more resilient growth than expected in October. Not investment advice.

📊 SPX — Piyasa Yorumu

■ neutral · 45%

Although the ISM manufacturing PMI exceeding expectations is a positive macro signal, the S&P 500's 1.22% decline over the past 24 hours and the MACD's negative position below its signal line indicate weak short-term momentum. The RSI at 45.5 is in neutral territory, and the price is trading below both the SMA20 and SMA50, suggesting that a recovery has not yet been confirmed. Strong manufacturing data could push interest rate expectations higher, putting pressure on equities; therefore, the direction of the impact is uncertain. In the 1-3 day horizon, a sideways-to-choppy pattern is expected, with support around 7600 and resistance at 7665 to be monitored.

RSI 14

45.6

MACD

-28.60

24h Δ

-1.22%

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