USA Durable Goods Orders (MoM) For March 2.6% Vs 2.5% Est.; 0.7% Prior
Portfolio Pulse from Benzinga Newsdesk
USA Durable Goods Orders for March increased by 2.6%, surpassing the estimated 2.5% and significantly higher than the previous month's 0.7%.
April 24, 2024 | 12:30 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) may see positive movement as stronger than expected durable goods orders indicate a robust economy.
Durable goods orders are a key economic indicator. A higher than expected increase suggests economic strength, which generally supports equity markets, including broad market ETFs like SPY. Investors may view this as a positive signal for continued market growth, leading to potential short-term gains in SPY.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 75