USA New Home Sales (MoM) For July 4.4%; -2.8% Prior
Portfolio Pulse from Benzinga Newsdesk
USA New Home Sales for the month of July increased by 4.4%, compared to a decrease of 2.5% in the prior month.
August 23, 2023 | 2:00 pm
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POSITIVE IMPACT
The increase in new home sales could potentially have a positive impact on the SPY ETF, as it indicates a strengthening economy.
New home sales are a key economic indicator. An increase suggests a strengthening economy, which generally leads to a positive impact on the stock market and ETFs like SPY that track the market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50