USA New Home Sales For July 739K Vs 624K Est.; 668K Prior (Revised)
Portfolio Pulse from Benzinga Newsdesk
The USA new home sales for July reached 739,000, significantly surpassing the estimated 624,000 and the revised prior figure of 668,000. This indicates a stronger housing market than anticipated.
August 23, 2024 | 2:01 pm
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The SPDR S&P 500 ETF (SPY) may see a positive impact due to the stronger-than-expected new home sales, indicating economic strength.
The SPDR S&P 500 ETF (SPY) is a broad market ETF that can be influenced by macroeconomic indicators. The stronger-than-expected new home sales suggest economic resilience, which could positively impact SPY as it reflects overall market sentiment.
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