USA Construction Spending (MoM) For Sept. 0.1% Vs 0.0% Est.; 0.1% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA construction spending for September increased by 0.1%, slightly above the estimated 0.0% and matching the prior month's increase. This indicates a modest growth in the construction sector.
November 01, 2024 | 2:00 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) may experience a slight positive impact due to the better-than-expected construction spending data, indicating modest growth in the construction sector.
The SPY ETF, which tracks the S&P 500, may benefit from the positive construction spending data as it suggests economic growth. However, the impact is likely to be modest given the small increase.
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