USA New Home Sales For April 634K Vs 677K Est.; 665K Prior
Portfolio Pulse from Benzinga Newsdesk
USA new home sales for April came in at 634K, below the estimated 677K and the prior month's 665K.
May 23, 2024 | 2:00 pm
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The SPDR S&P 500 ETF (SPY) may see a short-term impact due to the lower-than-expected new home sales for April, which could signal a slowdown in the housing market and broader economic concerns.
The SPY ETF, which tracks the S&P 500, could be impacted by the disappointing new home sales data. Lower home sales can be a sign of economic weakness, potentially affecting investor sentiment and leading to a short-term decline in the ETF's price.
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