USA Durable Goods Orders (MoM) For August 0.2% Vs -0.5% Est.; -5.6% Prior
Portfolio Pulse from Benzinga Newsdesk
USA Durable Goods Orders for August increased by 0.2%, beating the estimated decrease of 0.5% and significantly improving from the prior figure of -5.2%.
September 27, 2023 | 12:30 pm
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POSITIVE IMPACT
The better-than-expected Durable Goods Orders data may positively impact the SPY ETF, as it indicates a stronger economy.
Durable Goods Orders is a leading economic indicator. A higher than expected reading is generally seen as positive for the economy, which can lead to a rise in stock prices, potentially impacting the SPY ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75