USA Housing Starts For January 1.331M Vs 1.450M Est.; 1.562M Prior
Portfolio Pulse from Benzinga Newsdesk
USA housing starts in January were reported at 1.331 million, below the estimated 1.450 million and the previous month's 1.562 million.
February 16, 2024 | 1:31 pm
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NEGATIVE IMPACT
The lower-than-expected housing starts may lead to a negative short-term impact on SPY as it reflects a slowdown in the housing market, potentially affecting overall economic sentiment.
Housing starts are a key economic indicator, reflecting the health of the housing market and consumer confidence. A lower-than-expected number suggests a slowdown, which can negatively affect market sentiment and thus impact SPY, an ETF that tracks the S&P 500 and is sensitive to economic indicators.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75