USA Pending Home Sales (MoM) For May -2.1% Vs 0.6% Est.; -7.7% Prior
Portfolio Pulse from Benzinga Newsdesk
USA Pending Home Sales for May decreased by 2.1% compared to the estimated increase of 0.6%, and a prior decrease of 7.7%.
June 27, 2024 | 2:00 pm
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NEGATIVE IMPACT
The SPDR S&P 500 ETF (SPY) may experience short-term volatility due to the unexpected decline in USA Pending Home Sales for May, which fell by 2.1% against an estimated increase of 0.6%.
The decline in pending home sales indicates potential weakness in the housing market, which could impact broader economic sentiment and lead to short-term volatility in the SPY ETF.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50