USA Business Inventories (MoM) For December 0.4% Vs 0.4% Est.; -0.1% Prior
Portfolio Pulse from Benzinga Newsdesk
USA Business Inventories for December showed a month-over-month increase of 0.4%, aligning with the estimated 0.4% and marking an improvement from the -0.1% observed in the prior month.
February 15, 2024 | 3:00 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) may see a neutral to slightly positive impact due to the alignment of business inventories with expectations, indicating stable economic conditions.
Business inventories are a key economic indicator that can influence market sentiment and investor behavior. The alignment of the December business inventories with estimates suggests stable economic conditions, which can be seen as a positive signal for the broader market and, by extension, for SPY as it tracks the S&P 500. However, since this data point met expectations without exceeding them, the impact is likely to be neutral to slightly positive.
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