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.
CONFIDENCE 80
IMPORTANCE 30
RELEVANCE 50