USA Durables Excluding Defense (MoM) For October -6.7% Vs -6.7% Prior (Unchanged)
Portfolio Pulse from Benzinga Newsdesk
The USA Durables Excluding Defense (MoM) for October remained unchanged at -6.7%, indicating no improvement or decline from the prior month's figure.
December 04, 2023 | 3:00 pm
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NEUTRAL IMPACT
The unchanged figure for USA Durables Excluding Defense suggests a stable economic indicator, which may have a neutral impact on the SPY ETF in the short term.
The report on USA Durables Excluding Defense is a measure of economic health, particularly in the manufacturing sector. Since the figure has not changed from the previous month, it suggests that there has been no significant shift in the economic landscape that would directly affect the broad market index tracked by SPY. Therefore, the impact on SPY is likely to be neutral in the short term, as investors had no positive or negative surprise to react to.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50