Surging Auto Sales In June Fuel Optimism Amid Mixed Retail Trends
Portfolio Pulse from AJ Fabino
The U.S. Department of Commerce's June Retail Sales report is expected to show a 1.1% year-over-year dip and a 0.5% month-over-month increase. Auto industry sales surged 21% to 1.38 million units in June, marking the third-highest sales pace this year. Nonfarm payrolls rose 209,000, missing expectations of 225,000. Retail stocks have shown mixed performance, with Costco, Best Buy, and Kohl's gaining, while Target fell.
July 17, 2023 | 5:43 pm
News sentiment analysis
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NEGATIVE IMPACT
Target's stock fell 1.83% over the last four weeks.
The decrease in Target's stock price suggests negative investor sentiment, possibly due to the overall retail sales trends.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 75
POSITIVE IMPACT
Best Buy's stock gained 3.32% in the last four weeks.
The increase in Best Buy's stock price suggests positive investor sentiment, possibly due to the overall retail sales trends.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 75
POSITIVE IMPACT
Costco's stock moved 5.89% higher in the last four weeks.
The rise in Costco's stock price indicates positive investor sentiment and could be linked to the overall retail sales trends.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 75
POSITIVE IMPACT
Kohl's stock gained 9.65% in the last four weeks.
The increase in Kohl's stock price indicates positive investor sentiment, possibly influenced by the overall retail sales trends.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 75