USA CPI (MoM) For July 0.2% Vs 0.2% Est.; -0.1% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Consumer Price Index (CPI) for July increased by 0.2% month-over-month, matching the estimated 0.2% and improving from the prior -0.1%.
August 14, 2024 | 12:30 pm
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POSITIVE IMPACT
The USA CPI for July increased by 0.2% MoM, matching estimates and improving from the prior -0.1%. This indicates stable inflation, which could positively impact the SPY ETF as it reflects investor confidence in the economy.
The CPI data matching estimates and showing improvement from the prior month suggests stable inflation, which is generally positive for the stock market. As SPY is an ETF that tracks the S&P 500, it is likely to benefit from this economic stability.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80