Durable Goods Orders (MoM) (Feb) +1.4% vs +1.2% Est.
Portfolio Pulse from Benzinga Newsdesk
Durable Goods Orders for February increased by 1.4%, surpassing the estimated growth of 1.2%. This indicates a stronger than expected demand for durable goods, which could reflect positively on the economy's health.
March 26, 2024 | 12:30 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) could see positive short-term movement as the higher than expected Durable Goods Orders suggest a stronger economy, which generally supports equity markets.
Durable Goods Orders are a key economic indicator that reflect consumer and business spending health. A higher than expected increase suggests economic strength, which typically leads to higher equity prices. As SPY tracks the S&P 500, it's likely to benefit from the positive economic data.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75