USA New Home Sales For November 590K Vs 695K Est.; 672K Prior
Portfolio Pulse from Benzinga Newsdesk
USA new home sales for November were reported at 590K, significantly lower than the estimated 695K and the prior month's 672K. This indicates a potential slowdown in the housing market.
December 22, 2023 | 3:00 pm
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The SPDR S&P 500 ETF Trust (SPY) may experience short-term negative impact due to lower than expected new home sales, indicating a potential economic slowdown.
As SPY tracks a broad range of sectors including housing, lower home sales could signal a wider economic downturn, potentially affecting investor sentiment and SPY's performance.
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