USA Wholesale Inventories (MoM) For July 0.2% Vs 0.3% Est.; 0.2% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA wholesale inventories for July increased by 0.2%, which is below the estimated 0.3% but matches the prior month's increase. This data may influence market sentiment and impact ETFs like SPY that track the broader market.
September 09, 2024 | 2:00 pm
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NEUTRAL IMPACT
The USA wholesale inventories for July increased by 0.2%, below the expected 0.3%. This may impact SPY, as it reflects broader market sentiment.
SPY, an ETF that tracks the S&P 500, could be influenced by the wholesale inventory data as it reflects economic activity. The lower-than-expected increase might lead to neutral or mixed market reactions, hence a neutral score.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50