New Home Sales For June 697K Vs 725K Expected; 763K Prior
Portfolio Pulse from Benzinga Newsdesk
New home sales for June came in at 697K, lower than the expected 725K and the prior figure of 763K.
July 26, 2023 | 2:01 pm
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NEGATIVE IMPACT
The lower than expected new home sales could potentially impact the SPY ETF, which tracks the S&P 500 index.
The SPY ETF, which tracks the S&P 500 index, could be impacted by the lower than expected new home sales. This is because the housing market is a significant part of the US economy and can influence investor sentiment, potentially leading to a decrease in the value of the ETF.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75