Core Durable Goods Orders (MoM) For February 0.5% Vs 0.4% Est.; -0.3% Prior
Portfolio Pulse from Benzinga Newsdesk
Core Durable Goods Orders for February increased by 0.5%, surpassing the estimated 0.4% and showing an improvement from the -0.3% recorded in the previous month.
March 26, 2024 | 12:30 pm
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POSITIVE IMPACT
The increase in Core Durable Goods Orders suggests a strengthening economy, which could lead to positive sentiment among investors and potentially boost SPY.
Core Durable Goods Orders are a key economic indicator that reflects the health of the manufacturing sector and overall economy. A higher than expected increase suggests economic strength, which generally leads to positive market sentiment and could result in an uptick in SPY, an ETF that tracks the S&P 500 and is often used as a barometer for the overall U.S. stock market.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80