Redbook U.S. Sales +0.6% Week Ending June 3 Vs Year Ago; -2.6% For First Week Of June Vs June Year Ago
Portfolio Pulse from Benzinga Newsdesk
Redbook reported U.S. sales increased by 0.6% for the week ending June 3 compared to the same period last year, but decreased by 2.6% for the first week of June compared to June last year.
June 06, 2023 | 12:56 pm
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Redbook's U.S. sales data shows mixed results, with a 0.6% increase YoY for the week ending June 3, but a 2.6% decrease for the first week of June compared to last year.
The mixed results in Redbook's U.S. sales data may have a neutral short-term impact on the SPY ETF. The 0.6% increase YoY for the week ending June 3 is a positive sign, but the 2.6% decrease for the first week of June compared to last year indicates potential weakness in the retail sector. As the SPY ETF is a broad market indicator, the mixed data may not have a significant impact on its short-term price direction.
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