NAHB Housing Market Index For May 45 Vs 51 Est.; 51 Prior
Portfolio Pulse from Benzinga Newsdesk
The NAHB Housing Market Index for May came in at 45, significantly below the estimated 51 and the previous month's 51. This indicates a decline in builder confidence in the housing market.
May 15, 2024 | 2:00 pm
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The NAHB Housing Market Index for May fell to 45, below the expected 51 and the previous 51, indicating a decline in builder confidence. This could negatively impact the broader market sentiment.
The SPY ETF, which tracks the S&P 500, could see a negative impact due to the decline in the NAHB Housing Market Index. Lower builder confidence may signal broader economic concerns, affecting market sentiment.
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