USA Pending Home Sales (MoM) For September 1.1% Vs -1.8% Est.; -7.1% Prior
Portfolio Pulse from Benzinga Newsdesk
USA's pending home sales for September increased by 1.1%, beating the estimated decrease of -1.8% and significantly improving from the -7.1% recorded in the prior month.
October 26, 2023 | 2:01 pm
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POSITIVE IMPACT
The better-than-expected pending home sales data may have a positive impact on the SPY ETF, as it indicates a stronger housing market and potentially a healthier economy.
The SPY ETF, which tracks the S&P 500, could be positively impacted by the better-than-expected pending home sales data. This is because the housing market is a significant part of the US economy, and stronger sales could indicate a healthier economy overall. This could lead to increased investor confidence and potentially higher stock prices.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75