Housing Starts (MoM) (Jul) -6.8%
Portfolio Pulse from Benzinga Newsdesk
Housing starts in the U.S. for July decreased by 6.8% month-over-month, indicating a slowdown in the housing market.
August 16, 2024 | 12:30 pm
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NEGATIVE IMPACT
The SPDR S&P 500 ETF (SPY) may experience short-term volatility due to the reported 6.8% decline in U.S. housing starts for July, reflecting potential concerns about economic growth.
A significant decline in housing starts can be seen as a negative economic indicator, potentially impacting broader market sentiment and causing short-term volatility in SPY.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50