Initial Q3 Results Are Better-Than-Expected
Zacks Investment Research | Oct 14, 2019 10:43PM ET
As we await news reports from companies reporting Q3 results this morning, we see the October Empire State Index — which had been expected out this morning — was released in error yesterday, with a headline of 4.0. This is better than the 2.0 expected, and between recent highs (+24.3 in August 2018) and lows (-8.6 in June 2019).
Clearly, these results tend toward the more volatile, although interestingly, the estimates for this New York state production survey are almost always higher than the actual — though not for this month. This index looks to be bouncing off those recent lows; the end of the year will be key for this metric.
JPMorgan Chase (Zacks Investment Research
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