USA Existing Home Sales (MoM) for April -3.4% Vs 0.1% Est.; -2.6% Prior
Portfolio Pulse from Benzinga Newsdesk
USA existing home sales for April decreased by 3.4% month-over-month, compared to an estimated 0.1% increase and a 2.4% decrease in the prior month.
May 18, 2023 | 2:00 pm
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NEGATIVE IMPACT
The decline in existing home sales for April may negatively impact the SPY ETF in the short term.
The decline in existing home sales indicates a weaker housing market, which may lead to concerns about the overall economy. This could negatively impact the SPY ETF, which tracks the performance of the S&P 500 Index, as investors may become more cautious.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50