USA Durable Goods Orders (MoM) For July 9.9% Vs 4.0% Est.; -6.9% Prior (Revised)
Portfolio Pulse from Benzinga Newsdesk
The USA Durable Goods Orders for July increased by 9.9%, significantly surpassing the estimated 4.0% and recovering from a revised -6.9% in the prior month. This indicates a strong rebound in manufacturing demand.
August 26, 2024 | 12:30 pm
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The SPDR S&P 500 ETF (SPY) may see a positive impact due to the stronger-than-expected increase in Durable Goods Orders, indicating robust economic activity.
The significant increase in Durable Goods Orders suggests a rebound in manufacturing, which is a positive indicator for the overall economy. As SPY tracks the S&P 500, which includes a broad range of sectors, improved economic conditions could lead to a rise in stock prices.
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