US June Consumer Credit Rises $8.934B MoM; $10B Est.
Portfolio Pulse from Benzinga Newsdesk
US consumer credit increased by $8.934 billion in June, which is slightly below the estimated $10 billion. This data could influence market sentiment and consumer spending outlook.
August 07, 2024 | 7:04 pm
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NEUTRAL IMPACT
The increase in US consumer credit by $8.934 billion in June, which is below the $10 billion estimate, may have a neutral to slightly negative impact on SPY. This data suggests a slower than expected growth in consumer borrowing, which could affect market sentiment.
The SPY ETF, which tracks the S&P 500, could see a neutral to slightly negative impact due to the lower than expected increase in consumer credit. This data point may indicate slower consumer spending growth, affecting market sentiment.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50