USA Building Permits For July 1.396M Vs 1.430M Est.; 1.454M Prior
Portfolio Pulse from Benzinga Newsdesk
USA building permits for July came in at 1.396 million, below the estimated 1.430 million and the prior 1.454 million.
August 16, 2024 | 12:30 pm
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NEGATIVE IMPACT
The SPDR S&P 500 ETF (SPY) may see a short-term impact due to the lower-than-expected building permits for July, which could signal a slowdown in the housing market and broader economic activity.
The lower-than-expected building permits suggest a potential slowdown in the housing market, which could affect broader economic activity and investor sentiment, leading to a short-term negative impact on SPY.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50