Existing Home Sales (MoM) For November 0.8% Vs -4.1% Prior
Portfolio Pulse from Benzinga Newsdesk
Existing Home Sales for November showed an increase of 0.8% month-over-month, compared to a prior decrease of 4.1%. This indicates a potential rebound in the housing market, which could have implications for related stocks and ETFs.
December 20, 2023 | 3:01 pm
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POSITIVE IMPACT
The SPY ETF, which tracks the S&P 500, may see a positive impact as the housing market is a significant component of the economy and improved home sales could signal broader economic strength.
The SPY ETF is likely to be positively impacted in the short term by the increase in Existing Home Sales, as it suggests economic stability and growth, which generally leads to higher market confidence and potentially increased stock prices.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70