USA New Home Sales For September 738K Vs 719K Est.; 709K Prior
Portfolio Pulse from Benzinga Newsdesk
The USA new home sales for September reached 738,000, surpassing the estimated 719,000 and the previous month's 709,000. This indicates a stronger housing market than anticipated.
October 24, 2024 | 2:04 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) may see a positive impact as stronger than expected new home sales indicate economic strength, potentially boosting investor confidence in the broader market.
The SPDR S&P 500 ETF (SPY) is a broad market ETF that can be influenced by macroeconomic indicators. Stronger new home sales suggest economic resilience, which can positively affect investor sentiment and the stock market, potentially leading to a short-term increase in SPY's price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50