USA Durables Excluding Defense (MoM) For August -0.2% Vs -0.2% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA's durable goods orders excluding defense for August remained unchanged at -0.2% compared to the previous month. This indicates a stable but slightly negative trend in the manufacturing sector.
October 03, 2024 | 2:01 pm
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NEUTRAL IMPACT
The unchanged durable goods orders excluding defense at -0.2% for August suggest a stable manufacturing sector, which may lead to a neutral impact on SPY as it reflects the broader market.
SPY, as an ETF that tracks the S&P 500, is influenced by broad economic indicators. The unchanged durable goods orders suggest stability, which is neither strongly positive nor negative for the market.
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