USA Wholesale Inventories (MoM) For December 0.4% Vs 0.4% Est.; -0.2% Prior
Portfolio Pulse from Benzinga Newsdesk
USA Wholesale Inventories for December showed a month-on-month increase of 0.4%, aligning with the estimated 0.4% and marking an improvement from the previous month's -0.2%.
February 08, 2024 | 3:00 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) may see a positive short-term impact due to the alignment of wholesale inventories with estimates, indicating economic stability.
The alignment of the wholesale inventories with estimates suggests economic stability, which is generally positive for the stock market and, by extension, for broad market ETFs like SPY. Investors often view such economic indicators as signs of the overall health of the economy, which can influence market sentiment and investment decisions.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70