Core Durable Goods Orders (MoM) For September 0.5% Vs 0.2% Est.; 0.5% Prior
Portfolio Pulse from Benzinga Newsdesk
Core Durable Goods Orders for September increased by 0.5%, beating the estimated 0.2% and matching the prior figure of 0.5%.
October 26, 2023 | 12:30 pm
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POSITIVE IMPACT
The increase in Core Durable Goods Orders, which exceeded estimates, may positively impact the SPY ETF as it indicates a stronger economy.
Core Durable Goods Orders is a key economic indicator that reflects the new purchase orders placed with manufacturers for delivery of hard goods. A higher than expected reading is generally seen as positive for the economy, which can lead to a positive impact on the stock market and ETFs like SPY that track the market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75