USA Consumer Credit For July 25.45B Vs 12.30B Est.; 8.93B Prior
Portfolio Pulse from Benzinga Newsdesk
The USA consumer credit for July significantly exceeded expectations, coming in at $25.45 billion compared to the estimated $12.30 billion and the prior $8.93 billion.
September 09, 2024 | 7:01 pm
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The significant increase in consumer credit for July suggests stronger consumer spending, which could positively impact the SPY ETF as it reflects the overall market performance.
The SPY ETF, which tracks the S&P 500, could benefit from increased consumer spending as indicated by the higher-than-expected consumer credit figures. This suggests a potential boost in economic activity, which is generally positive for the stock market.
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