USA Existing Home Sales For January 4.00M Vs 3.96M Est.; 3.88M Prior
Portfolio Pulse from Benzinga Newsdesk
USA existing home sales in January increased to 4.00 million, surpassing the estimated 3.96 million and the previous month's 3.88 million.
February 22, 2024 | 3:00 pm
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The increase in existing home sales may signal a robust real estate market, potentially leading to positive sentiment in the broader economy and impacting SPY.
SPY, as an ETF that tracks the S&P 500, could see positive movement as the increase in home sales may reflect a stronger economy, which generally supports higher equity prices. The data surpassing estimates suggests consumer confidence and financial stability, factors that contribute to overall market growth.
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