USA Durable Goods Orders (MoM) For August 0.0% Vs -2.8% Est.; 9.9% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Durable Goods Orders for August remained flat at 0.0%, which is better than the estimated decline of -2.8%, but significantly lower than the previous month's 9.9% increase.
September 26, 2024 | 12:30 pm
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NEUTRAL IMPACT
The SPY ETF, which tracks the S&P 500, may see a neutral to slightly positive impact as the flat durable goods orders for August beat the negative expectations, indicating a more stable economic environment than anticipated.
The SPY ETF is influenced by macroeconomic indicators like durable goods orders. The flat result, while not showing growth, is better than the expected decline, suggesting a more stable economic environment. This could lead to a neutral or slightly positive sentiment in the market.
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