Core Durable Goods Orders MoM For June 0.6% Vs 0.0% Expected
Portfolio Pulse from Benzinga Newsdesk
Core Durable Goods Orders for June increased by 0.6%, beating the expectation of 0.0%.
July 27, 2023 | 12:31 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
The better-than-expected Core Durable Goods Orders data may positively impact the SPY ETF, as it indicates a stronger economy.
Core Durable Goods Orders is a key economic indicator that reflects the new purchase orders placed with manufacturers for delivery of hard goods. A higher than expected reading can be taken as positive for the economy, and thus positive for the SPY ETF, which tracks the S&P 500 and is a broad measure of the market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75