USA CB Consumer Confidence For October 108.7 Vs 99.5 Est.; 99.2 Prior (Revised)
Portfolio Pulse from Benzinga Newsdesk
The USA CB Consumer Confidence index for October rose to 108.7, significantly surpassing the estimated 99.5 and the revised prior figure of 99.2. This indicates a stronger consumer sentiment than anticipated.
October 29, 2024 | 2:01 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) may experience a positive impact due to the higher-than-expected consumer confidence index, suggesting stronger economic sentiment.
The SPDR S&P 500 ETF (SPY) is likely to be positively impacted by the rise in consumer confidence, as it suggests stronger economic conditions. This can lead to increased consumer spending, benefiting companies within the S&P 500 and potentially driving up the ETF's value.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80