CORRECTION: Durable Goods Orders MoM For June 4.7% Vs 1.0% Expected; 1.7% Prior
Portfolio Pulse from Benzinga Newsdesk
The Durable Goods Orders for June increased by 4.7%, significantly higher than the expected 1.0% and the prior 1.7%.
July 27, 2023 | 12:31 pm
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POSITIVE IMPACT
The unexpected increase in Durable Goods Orders may positively impact the SPY ETF as it indicates a stronger economy.
Durable Goods Orders are a key indicator of economic health. A higher than expected increase suggests a stronger economy, which is generally positive for the stock market and ETFs like SPY that track it.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75