US Personal Spending (MoM) (Apr) +0.2% vs +0.3% Est.
Portfolio Pulse from Benzinga Newsdesk
US Personal Spending for April increased by 0.2%, which is below the estimated 0.3%.
May 31, 2024 | 12:31 pm
News sentiment analysis
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NEGATIVE IMPACT
The SPDR S&P 500 ETF (SPY) may see a slight negative impact as US Personal Spending for April increased by 0.2%, missing the 0.3% estimate. This could indicate weaker consumer spending, potentially affecting overall market sentiment.
The lower-than-expected increase in personal spending could signal weaker consumer confidence and spending power, which may negatively affect the broader market represented by SPY.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80