S&P/CS HPI Composite - 20 n.s.a. (YoY) For October 4.9% Vs 5% Est.; 3.9% Prior
Portfolio Pulse from Happy Mohamed
The S&P/CS HPI Composite - 20 n.s.a. year-over-year for October was reported at 4.9%, slightly below the estimated 5% but higher than the previous 3.9%.
December 26, 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 a modest change in housing market trends.
The S&P/CS HPI Composite - 20 n.s.a. is an indicator of housing market health, which can affect the overall economy and market sentiment. Since the reported figure is close to the estimate and shows an increase from the prior figure, the impact on SPY, which tracks the broader market, is likely to be neutral in the short term. Investors may have already priced in these expectations.
CONFIDENCE 75
IMPORTANCE 40
RELEVANCE 50