S&P/CS HPI Composite - 20 n.s.a. (YoY) For September 3.9% Vs 4% Est.; 2.1% Prior
Portfolio Pulse from Benzinga Newsdesk
The S&P/CS HPI Composite - 20 n.s.a. year-over-year for September was reported at 3.9%, slightly below the estimated 4% and down from the previous 2.1%.
November 28, 2023 | 2:00 pm
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NEUTRAL IMPACT
The S&P/CS HPI Composite - 20 n.s.a. report, which came in slightly below estimates, may have a minimal impact on SPY as it reflects broader economic conditions rather than direct performance.
The S&P/CS HPI Composite - 20 n.s.a. is an indicator of housing market health and can influence investor sentiment regarding economic conditions. However, as an ETF that tracks a broad range of equities, SPY is not directly affected by housing market data. The slight miss in the housing price index may cause some concern among investors about economic growth, but it is unlikely to have a significant direct impact on the performance of SPY in the short term.
CONFIDENCE 75
IMPORTANCE 40
RELEVANCE 50