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.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50