USA Construction Spending (MoM) For August -0.1% Vs 0.2% Est.; -0.5% Prior
Portfolio Pulse from Benzinga Newsdesk
USA construction spending for August decreased by 0.1%, missing the estimated increase of 0.2% and showing a slight improvement from the prior month's -0.5%.
October 01, 2024 | 2:00 pm
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NEGATIVE IMPACT
The SPDR S&P 500 ETF (SPY) may experience slight volatility due to the unexpected decline in USA construction spending for August, which missed estimates.
The SPY ETF, which tracks the S&P 500, could be impacted by the construction spending data as it reflects economic activity. The miss in estimates might lead to a slight negative sentiment in the market.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50