USA Business Inventories (MoM) For June 0.3% Vs 0.3% Est.; 0.5% Prior
Portfolio Pulse from Benzinga Newsdesk
USA Business Inventories for June increased by 0.3%, matching the estimated growth and down from the 0.5% growth in May.
August 15, 2024 | 2:01 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) may see a neutral to slightly positive impact as USA Business Inventories for June increased by 0.3%, matching estimates but down from May's 0.5%.
The 0.3% increase in business inventories for June aligns with market expectations, suggesting stability in economic conditions. This is likely to have a neutral to slightly positive impact on SPY, reflecting steady economic growth.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50