Goods Trade Balance (Sep)-108.23B vs -$95.9B Est.
Portfolio Pulse from Benzinga Newsdesk
The U.S. goods trade balance for September was reported at -$108.23 billion, significantly worse than the estimated -$95.9 billion. This indicates a larger trade deficit than expected.
October 29, 2024 | 12:30 pm
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NEGATIVE IMPACT
The SPDR S&P 500 ETF (SPY) may experience short-term volatility due to the larger-than-expected U.S. trade deficit reported for September. This could affect market sentiment and investor confidence.
The SPDR S&P 500 ETF (SPY) is a broad market ETF that can be sensitive to macroeconomic indicators such as trade balances. A larger-than-expected trade deficit may lead to concerns about economic health, potentially causing short-term market volatility.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50