Redbook: US Retail Sales First 3 Weeks Jul -0.3% vs Jul Year-Ago; Redbook: US Retail Sales -0.4% Week End Jul 22 vs Year Ago
Portfolio Pulse from Charles Gross
According to Redbook, US retail sales for the first three weeks of July were down 0.3% compared to the same period last year. Additionally, retail sales for the week ending July 22 were down 0.4% compared to the same week last year.
July 25, 2023 | 12:58 pm
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The reported decrease in US retail sales could potentially impact the SPY ETF, which tracks the S&P 500 index and is influenced by the overall health of the US economy.
The SPY ETF is a broad market index fund that is influenced by the overall health of the US economy. A decrease in retail sales suggests a potential slowdown in consumer spending, which could negatively impact the performance of the SPY ETF in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75