USA Existing Home Sales For August 4.04M Vs 4.10M Est.; 4.07M Prior
Portfolio Pulse from Benzinga Newsdesk
USA existing home sales for August were reported at 4.04 million, slightly below the estimated 4.10 million and the prior figure of 4.07 million.
September 21, 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 can be seen as a negative economic indicator, potentially leading to a decrease in investor confidence and a negative impact on the SPY ETF in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75