USA Existing Home Sales For July 4.07M Vs 4.15M Est.; 4.16M Prior
Portfolio Pulse from Happy Mohamed
USA existing home sales for July came in at 4.07 million, slightly below the estimated 4.15 million and the prior figure of 4.16 million.
August 22, 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 sensitive to overall economic indicators.
The SPY ETF tracks the S&P 500 index, which is a broad representation of the US economy. Lower-than-expected home sales, an important economic indicator, could potentially lead to a negative sentiment among investors, possibly affecting the ETF's performance in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 75