USA Pending Home Sales (MoM) For June 4.8% Vs 1.4% Est.; -1.9% Prior (Revised)
Portfolio Pulse from Benzinga Newsdesk
USA Pending Home Sales for June increased by 4.8%, significantly surpassing the estimated 1.4% and showing a strong recovery from the revised -1.9% in May.
July 31, 2024 | 2:00 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) is likely to see a positive impact due to the stronger-than-expected increase in USA Pending Home Sales for June, which indicates a healthier real estate market and potentially stronger economic conditions.
The significant increase in pending home sales suggests a stronger real estate market, which can be a positive indicator for the overall economy. This could lead to increased investor confidence and a potential rise in the SPY ETF.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80