Core Durable Goods Orders (MoM) (Jan) -0.3% vs +0.2% Est.
Portfolio Pulse from Benzinga Newsdesk
Core Durable Goods Orders for January decreased by 0.3%, contrary to the expected increase of 0.2%.
February 27, 2024 | 1:30 pm
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NEGATIVE IMPACT
The unexpected decrease in Core Durable Goods Orders may lead to a short-term negative sentiment in the market, potentially impacting SPY.
Core Durable Goods Orders are a key economic indicator. A decrease, contrary to expectations, can signal a slowing economy, which may lead to decreased investor confidence and negatively impact broad market ETFs like SPY in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80