U.S. New Home Sales MoM 4.1% vs 3.3% Est.
Portfolio Pulse from Benzinga Newsdesk
U.S. new home sales increased by 4.1% month-over-month, surpassing the estimated 3.3% growth.
May 23, 2023 | 2:11 pm
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POSITIVE IMPACT
The better-than-expected 4.1% MoM growth in U.S. new home sales may positively impact the SPY ETF in the short term.
The better-than-expected growth in new home sales indicates a strong housing market, which can positively impact the overall economy and investor sentiment. This may lead to a short-term positive impact on the SPY ETF, which tracks the performance of the S&P 500 index.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75