U.S. Consumer Credit For July 10.40B Vs 16.00B Est.; 14.02B Prior
Portfolio Pulse from Benzinga Newsdesk
U.S. Consumer Credit for July was reported at $10.40 billion, significantly lower than the estimated $16.00 billion and the prior figure of $14.02 billion.
September 08, 2023 | 7:03 pm
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NEGATIVE IMPACT
The lower than expected U.S. Consumer Credit for July could potentially impact the SPY ETF, as it reflects broader economic trends.
The SPY ETF tracks the S&P 500 index, which is a broad representation of the U.S. stock market. Lower than expected consumer credit could indicate a slowdown in consumer spending, which could potentially impact the overall economy and, by extension, the stock market. This could lead to a negative impact on the SPY ETF in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75