Durable Goods Orders (MoM) (Apr) +0.7% vs -0.9% Est.
Portfolio Pulse from Benzinga Newsdesk
Durable Goods Orders for April increased by 0.7%, surpassing the estimated decline of 0.9%.
May 24, 2024 | 12:30 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) is likely to see a positive impact due to the better-than-expected Durable Goods Orders for April, which rose by 0.7% against an estimated decline of 0.9%. This indicates stronger economic activity.
The better-than-expected Durable Goods Orders suggest stronger economic activity, which is generally positive for the overall stock market. As SPY tracks the S&P 500, it is likely to benefit from this positive economic indicator.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80