How can I interpret the change in the value of the economic indicator? Why the economic indicators are important?

PHLX Housing Index QUOTES & COMPANIES HGX VIEW ALL COMPANIES 5:16 PM EDT 07/30/20 1D 5D 1M 3M YTD 1Y 3 Y 1 Day Range 357.41-364.08 362.16 -2.23 -0.61% 52 Week Range 175.41-378.51 (03/23/20 - 02/21/20) 360 350 340 Jul 24 Jul 27 Jul 28 Jul 29 Jul 30 ADVANCED CHARTING COMPARE - Open 358.33 Prior Close 364.39 (07/29/20) 1 Day HGX-0.61% DJIA -0.85% S&P 500 -0.38% Screenshot Nasd