USA Durable Goods Orders (MoM) For January -6.1% Vs -4.9% Est.; -0.3% Prior
Portfolio Pulse from Benzinga Newsdesk
USA Durable Goods Orders for January decreased by 6.1%, which is more than the estimated decrease of 4.9% and a significant drop from the previous month's decrease of 0.3%.
February 27, 2024 | 1:30 pm
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NEGATIVE IMPACT
The larger-than-expected decrease in Durable Goods Orders may lead to negative sentiment towards the overall market, potentially impacting SPY.
Durable Goods Orders are a key economic indicator that can influence market sentiment. A significant drop, larger than expected, may lead to concerns about the health of the manufacturing sector and the broader economy, potentially causing a negative reaction in the stock market. As SPY is a broad market ETF, it's likely to be impacted by such macroeconomic indicators.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80