USA New Home Sales (MoM) For August -8.7%; 8.0% Prior
Portfolio Pulse from Benzinga Newsdesk
USA New Home Sales for August have decreased by 8.7%, compared to a 4.4% increase in the prior month.
September 26, 2023 | 2:01 pm
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NEGATIVE IMPACT
The decrease in new home sales could potentially impact the SPY ETF, as it reflects the overall performance of the US economy.
The SPY ETF tracks the S&P 500, which is a broad representation of the US economy. A decrease in new home sales is generally seen as a negative economic indicator, which could potentially lead to a decrease in the value of the SPY ETF in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75