Goods Trade Balance For July -102.66B Vs -97.7B Estimate, -96.56B Prior
Portfolio Pulse from Benzinga Newsdesk
The U.S. goods trade balance for July was reported at -$102.66 billion, which is worse than the estimated -$97.7 billion and the prior -$96.56 billion. This indicates a larger trade deficit than expected.
August 29, 2024 | 12:30 pm
News sentiment analysis
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NEGATIVE IMPACT
The larger-than-expected U.S. trade deficit for July could negatively impact the SPY ETF, as it reflects broader economic challenges that may affect market sentiment.
The SPY ETF, which tracks the S&P 500, could be impacted by the larger-than-expected trade deficit as it may signal economic headwinds. This could lead to negative market sentiment, affecting the ETF's performance.
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