USA New Home Sales For July 714K Vs 705K Est.; 684K Prior
Portfolio Pulse from Happy Mohamed
USA new home sales for July came in at 714K, beating the estimated 705K and the prior figure of 697K.
August 23, 2023 | 2:00 pm
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POSITIVE IMPACT
The SPY ETF, which tracks the S&P 500, may see positive movement due to better-than-expected new home sales data.
The SPY ETF tracks the S&P 500, which includes companies from the real estate sector. Better-than-expected new home sales data is a positive economic indicator, which could lead to an uptick in the stock market and, consequently, the SPY ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75