USA House Price Index (MoM) For July 0.8% Vs 0.5% Est; 0.3% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA House Price Index for July has increased by 0.8%, surpassing the estimated 0.5% and the prior 0.3%. This indicates a positive trend in the housing market.
September 26, 2023 | 1:00 pm
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POSITIVE IMPACT
The rise in the House Price Index may have a positive impact on SPY as it indicates a healthy economy.
The SPY ETF tracks the S&P 500, which is influenced by the overall health of the US economy. A rise in the House Price Index indicates a strong housing market, which is a key economic indicator. Therefore, this news could have a positive impact on SPY.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The rise in the House Price Index is likely to have a direct positive impact on XHB, which is a homebuilders ETF.
XHB is an ETF that tracks homebuilders and related companies. A rise in the House Price Index indicates a strong housing market, which directly benefits homebuilders. Therefore, this news is likely to have a positive impact on XHB.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90