USA New Home Sales For September 759K Vs 680K Est.; 676K Prior
Portfolio Pulse from Benzinga Newsdesk
USA new home sales for September were reported at 759K, significantly higher than the estimated 680K and the prior figure of 676K.
October 25, 2023 | 2:16 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) could be positively impacted by the higher than expected new home sales, as it indicates a robust economy.
New home sales are a key economic indicator. Higher than expected figures suggest a robust economy, which is generally positive for broad market ETFs like SPY. However, the direct impact may be diluted due to the diverse nature of the ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75