Pending Home Sales (MoM) (Jun) 0.3% vs (0.5)% Est.
Portfolio Pulse from Bill Haddad
The Pending Home Sales for June increased by 0.3%, which is lower than the estimated 0.5%.
July 27, 2023 | 2:00 pm
News sentiment analysis
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NEUTRAL IMPACT
The lower than expected increase in Pending Home Sales may have a neutral to slightly negative impact on SPY as it reflects a slower than anticipated growth in the housing market.
The SPY ETF, which tracks the S&P 500, may be affected by the slower than expected growth in the housing market as indicated by the lower than estimated increase in Pending Home Sales. However, the impact is likely to be neutral to slightly negative as the housing market is just one of many factors influencing the performance of the S&P 500.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50