USA Durables Excluding Defense (MoM) For July 10.4% Vs -7.5% Prior (Revised)
Portfolio Pulse from Benzinga Newsdesk
The USA's durable goods orders excluding defense for July increased by 10.4%, a significant improvement from the revised -7.5% in the previous month. This indicates a strong rebound in the manufacturing sector.
August 26, 2024 | 12:30 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) may see a positive impact due to the strong rebound in durable goods orders, indicating economic growth and potential positive sentiment in the stock market.
The significant increase in durable goods orders suggests economic growth, which can positively influence the broader market. SPY, as a major ETF tracking the S&P 500, may benefit from this positive economic indicator.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50