USA New Home Sales (MoM) For May -11.3% Vs 2.0% Prior (Revised)
Portfolio Pulse from Benzinga Newsdesk
USA New Home Sales for May decreased by 11.3% compared to a revised 2.0% increase in the previous month. This significant drop may impact the broader market sentiment.
June 26, 2024 | 2:00 pm
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The significant drop in new home sales for May by 11.3% compared to the previous month's revised increase of 2.0% could negatively impact the SPY ETF, which tracks the S&P 500. This decline may reflect broader economic concerns and affect market sentiment.
The sharp decline in new home sales is a significant economic indicator that can influence investor sentiment and market performance. As SPY tracks the S&P 500, it is likely to be affected by this negative economic data.
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