USA Existing Home Sales For October 3.79M Vs 3.90M Est.; 3.95M Prior
Portfolio Pulse from Benzinga Newsdesk
Existing home sales in the USA for October were reported at 3.79 million, falling short of the estimated 3.90 million and also below the prior figure of 3.95 million.
November 21, 2023 | 3:00 pm
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The SPDR S&P 500 ETF Trust (SPY) may be indirectly affected by the lower-than-expected existing home sales data, as it reflects broader market sentiment and economic indicators.
Existing home sales are a key economic indicator that can influence investor sentiment regarding the health of the economy. A lower-than-expected sales figure may lead to negative sentiment, which can affect the broader market and ETFs like SPY that track major indices. However, the impact may be moderate as SPY is diversified and not solely dependent on the housing sector.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50