USA Business Inventories (MoM) 0.3% April xx Vs 0.3% Est.; -0.1% Prior
Portfolio Pulse from Benzinga Newsdesk
USA Business Inventories for April increased by 0.3% month-over-month, matching the estimated growth and improving from the previous month's decline of 0.1%.
June 18, 2024 | 2:00 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) may see a positive impact as USA Business Inventories for April increased by 0.3%, meeting expectations and showing improvement from the previous month's decline.
The increase in business inventories suggests a potential uptick in economic activity, which could positively influence the broader market represented by SPY. Meeting expectations also reduces uncertainty.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50