USA Goods Trade Balance For August -84.27B Vs -91.20B Est.; -90.92B Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Goods Trade Balance for August was reported at -$84.27 billion, better than the estimated -$91.20 billion and the prior figure of -$90.92 billion.
September 29, 2023 | 12:30 pm
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POSITIVE IMPACT
The better-than-expected USA Goods Trade Balance for August may have a positive impact on the SPY ETF, as it indicates a healthier US economy.
The USA Goods Trade Balance is a key indicator of the health of the US economy. A better-than-expected figure suggests a stronger economy, which is generally positive for the stock market and ETFs like SPY that track it. Therefore, this news could potentially lead to a short-term increase in the price of SPY.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75