New Home Sales (Aug) 675K vs 700K Est.
Portfolio Pulse from Bill Haddad
The number of new home sales in August was reported at 675K, which is lower than the estimated 700K.
September 26, 2023 | 2:00 pm
News sentiment analysis
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NEGATIVE IMPACT
The lower than expected new home sales could negatively impact the SPY ETF, which tracks the S&P 500 index.
The SPY ETF tracks the S&P 500 index, which includes companies from the real estate sector. Lower than expected new home sales could indicate a slowdown in the real estate market, which could negatively impact the performance of these companies and, consequently, the SPY ETF.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
The XHB ETF, which focuses on homebuilders, could be negatively impacted by the lower than expected new home sales.
The XHB ETF focuses on homebuilders. Lower than expected new home sales could indicate a slowdown in the real estate market, which could negatively impact the performance of homebuilding companies and, consequently, the XHB ETF.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90