New Home Sales For May 763K Vs 675K Est.; 680K Prior
Portfolio Pulse from Benzinga Newsdesk
New home sales for May reached 763K, significantly surpassing the estimated 675K and the prior month's 680K.
June 27, 2023 | 2:02 pm
News sentiment analysis
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POSITIVE IMPACT
The strong new home sales data for May, beating estimates, may positively impact the SPY ETF in the short term.
The better-than-expected new home sales data for May indicates a strong housing market, which can boost investor confidence and positively impact the broader market, including the SPY ETF.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75