USA Existing Home Sales For June 4.16M Vs 4.20M Est.; 4.30M Prior
Portfolio Pulse from Happy Mohamed
USA existing home sales for June were reported at 4.16 million, slightly below the estimated 4.20 million and lower than the prior figure of 4.30 million.
July 20, 2023 | 2:00 pm
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NEGATIVE IMPACT
The lower than expected existing home sales could potentially impact the SPY ETF, which tracks the S&P 500 index and is influenced by overall economic indicators.
The SPY ETF is influenced by a broad range of economic indicators, including housing market data. Lower than expected home sales could indicate a slowing economy, which may negatively impact the ETF in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75