USA Business Inventories (MoM) For September 0.4% Vs 0.4% Est.; 0.4% Prior
Portfolio Pulse from Benzinga Newsdesk
USA Business Inventories for September showed a month-over-month increase of 0.4%, which was in line with the 0.4% estimate and equal to the prior month's figure.
November 15, 2023 | 3:02 pm
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NEUTRAL IMPACT
The SPY ETF, which tracks the S&P 500, may see minimal short-term impact as the business inventories data came in as expected, indicating a stable economic environment.
Since the business inventories data met expectations, it suggests stability in the economic environment, which is typically already priced into the market. Therefore, the impact on SPY is likely to be neutral in the short term.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50