USA Existing Home Sales (MoM) For July 1.3% Vs 1.3% Est.; -5.1% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA's existing home sales for July increased by 1.3% month-over-month, matching the estimated growth rate. This is an improvement from the previous month's decline of 5.1%.
August 22, 2024 | 2:00 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) may see a neutral to slightly positive impact as the USA's existing home sales for July met expectations with a 1.3% increase, showing improvement from the previous month's decline.
The SPY ETF, which tracks the S&P 500, may be influenced by macroeconomic indicators like home sales. The meeting of expectations with a 1.3% increase in July's home sales suggests stability in the housing market, which could be seen as a positive sign for the broader economy. However, the impact on SPY is likely neutral to slightly positive as the data met expectations rather than exceeding them.
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