USA Housing Starts For October 1.372M Vs 1.345M Est.; 1.358M Prior
Portfolio Pulse from Benzinga Newsdesk
U.S. housing starts in October increased to 1.372 million, surpassing the estimate of 1.345 million and the previous month's figure of 1.358 million.
November 17, 2023 | 1:30 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) may see a positive impact as the higher-than-expected housing starts indicate a robust housing market, which can lead to economic growth.
Housing starts are a leading economic indicator, and higher figures suggest a stronger housing market and potential economic growth. This can lead to increased investor confidence and a positive impact on the broader market, as reflected in ETFs like SPY that track major indices.
CONFIDENCE 80
IMPORTANCE 60
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