USA Business Inventories (MoM) For August 0.4% Vs 0.3% Est.; 0.1% Prior
Portfolio Pulse from Benzinga Newsdesk
USA Business Inventories for the month of August increased by 0.4%, beating the estimated 0.3% and the prior 0.1%.
October 17, 2023 | 2:00 pm
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The increase in business inventories could potentially indicate a stronger economy, which may positively impact the SPY ETF.
Business inventories are a key economic indicator. An increase in inventories can indicate a stronger economy as businesses are stocking up in anticipation of increased demand. This can lead to a positive impact on the stock market, and therefore the SPY ETF, which tracks the S&P 500.
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