U.S. Housing Permits For May 1.399M Unit Rate Vs 1.386M Prior; U.S. Housing Permits For May -2.8% Vs -3.8% Prior
Portfolio Pulse from Benzinga Newsdesk
U.S. housing permits for May were reported at a 1.399 million unit rate, slightly higher than the previous 1.386 million. The month-over-month decline in housing permits was -2.8%, an improvement from the prior -3.8%.
June 26, 2024 | 12:21 pm
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POSITIVE IMPACT
The slight increase in U.S. housing permits and the improved month-over-month decline could positively impact the SPY ETF, as it reflects a stabilizing housing market.
The SPY ETF, which tracks the S&P 500, could see a positive impact due to the slight improvement in housing permits. A stabilizing housing market is a positive economic indicator, which can boost investor confidence.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50