USA Business Inventories (MoM) For August 0.3% Vs 0.3% Est.; 0.3% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Business Inventories for August increased by 0.3%, matching both the estimate and the prior month's figure.
October 17, 2024 | 2:00 pm
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NEUTRAL IMPACT
The USA Business Inventories for August increased by 0.3%, which was in line with expectations and the previous month's data. This stability in business inventories suggests a steady economic environment, which could positively influence the SPY ETF.
The SPY ETF, which tracks the S&P 500, could be influenced by macroeconomic indicators like business inventories. The unchanged inventory growth rate suggests stability, which is generally neutral for broad market indices.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50