Durable Goods Orders MoM For Sept. 4.7% Vs 1.7%, -0.1% Prior
Portfolio Pulse from Benzinga Newsdesk
The month-on-month Durable Goods Orders for September increased by 4.7%, significantly higher than the 1.7% forecast and the -0.1% prior figure.
October 26, 2023 | 12:31 pm
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POSITIVE IMPACT
The SPY ETF, which tracks the S&P 500, may be positively impacted by the higher than expected Durable Goods Orders, as it indicates a stronger economy.
Durable Goods Orders are a key economic indicator. A higher than expected figure suggests a stronger economy, which is generally positive for broad market indices like the S&P 500 that SPY tracks.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75