USA Business Inventories (MoM) For July 0.4% Vs 0.3% Est.; 0.3% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Business Inventories for July increased by 0.4%, surpassing the estimated 0.3% and the prior month's 0.3%.
September 17, 2024 | 2:00 pm
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POSITIVE IMPACT
The increase in USA Business Inventories for July to 0.4% from the estimated 0.3% may indicate stronger economic activity, potentially impacting the SPY ETF positively.
The SPY ETF, which tracks the S&P 500, could be positively influenced by the higher-than-expected increase in business inventories, as it suggests stronger economic activity and potential growth in corporate revenues.
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