US New Home Sales For May 619K Vs 636K Est; 698K Prior
Portfolio Pulse from Benzinga Newsdesk
US new home sales for May came in at 619K, below the estimated 636K and significantly lower than the prior month's 698K.
June 26, 2024 | 2:00 pm
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The SPDR S&P 500 ETF (SPY) may see a short-term negative impact due to the lower-than-expected US new home sales for May, which could signal broader economic concerns.
The lower-than-expected new home sales figures could be seen as a sign of weakening economic conditions, which may negatively impact the broader market represented by SPY.
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