USA New Home Sales (MoM) For June -0.6%; -14.9% Prior
Portfolio Pulse from Benzinga Newsdesk
USA New Home Sales for June decreased by 0.6% compared to the previous month, which had a decline of 14.9%.
July 24, 2024 | 2:01 pm
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NEGATIVE IMPACT
The SPDR S&P 500 ETF (SPY) may experience slight volatility due to the reported 0.6% decline in USA New Home Sales for June, following a significant 14.9% drop in the previous month.
The decline in new home sales indicates potential weakness in the housing market, which could impact broader economic sentiment and, consequently, the SPY ETF.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50