USA Existing Home Sales For February 4.38M Vs 3.95M Est.; 4.00M Prior
Portfolio Pulse from Benzinga Newsdesk
USA existing home sales in February increased to 4.38 million, surpassing the estimated 3.95 million and the previous month's 4.00 million.
March 21, 2024 | 2:01 pm
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POSITIVE IMPACT
The increase in existing home sales may signal a stronger economy, potentially benefiting SPY as it reflects the broader market.
Higher existing home sales indicate economic strength, which generally leads to higher consumer confidence and spending. This can result in improved corporate earnings and stock performance, positively impacting SPY, which tracks the S&P 500.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70