USA Personal Spending (MoM) For August 0.2% Vs 0.3% Est.; 0.5% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA's personal spending for August increased by 0.2%, which is below the estimated 0.3% and lower than the previous month's 0.5% increase. This data may influence market sentiment and impact ETFs like SPY that track the broader market.
September 27, 2024 | 12:31 pm
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The SPDR S&P 500 ETF (SPY) may experience short-term volatility due to the lower-than-expected personal spending growth in August, which could affect market sentiment.
SPY, as an ETF tracking the S&P 500, is sensitive to macroeconomic indicators like personal spending. The lower-than-expected growth suggests potential consumer weakness, which could lead to negative sentiment in the broader market.
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