USA Pending Home Sales (MoM) For August 0.6% Vs 0.9% Est.; -5.5% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Pending Home Sales for August increased by 0.6%, which is below the estimated 0.9% but an improvement from the previous month's -5.5%.
September 26, 2024 | 2:00 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) may experience slight volatility due to the lower-than-expected increase in pending home sales, which could signal a slower housing market recovery.
The SPY ETF, which tracks the S&P 500, could be affected by macroeconomic indicators like housing data. The lower-than-expected pending home sales might suggest a slower economic recovery, potentially impacting investor sentiment. However, the impact is likely to be moderate as the data is not drastically off expectations.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50