USA CB Consumer Confidence For August 106.1 vs 116 Est
Portfolio Pulse from Benzinga Newsdesk
The USA CB Consumer Confidence for August is reported at 106.1, which is lower than the estimated 116.
August 29, 2023 | 2:01 pm
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NEGATIVE IMPACT
The lower than expected USA CB Consumer Confidence may negatively impact the SPY ETF as it reflects a less optimistic economic outlook.
The SPY ETF, which tracks the S&P 500, may be negatively impacted by the lower than expected consumer confidence as it indicates a less optimistic economic outlook. This could lead to a decrease in consumer spending, which could negatively affect the overall market and thus the SPY ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75