USA Durable Goods Orders (MoM) For June -6.6% Vs 0.3% Est.; 0.1% Prior
Portfolio Pulse from Benzinga Newsdesk
Durable goods orders in the USA for June decreased by 6.6% month-over-month, significantly missing the estimated increase of 0.3% and the prior month's increase of 0.1%.
July 25, 2024 | 12:30 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
The significant drop in durable goods orders for June, which fell by 6.6% compared to the estimated 0.3% increase, could negatively impact the SPDR S&P 500 ETF (SPY) as it reflects a potential slowdown in economic activity.
The larger-than-expected decline in durable goods orders suggests a potential slowdown in economic activity, which could negatively impact the broader market represented by SPY.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80