Retail Sales MoM For July 0.7% Vs 0.4% Expected; 0.2% Prior
Portfolio Pulse from Benzinga Newsdesk
Retail sales for July increased by 0.7%, surpassing the expected 0.4% and the prior 0.2%.
August 15, 2023 | 12:30 pm
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POSITIVE IMPACT
The better-than-expected retail sales data for July could potentially boost investor sentiment and have a positive impact on the SPY ETF.
Retail sales data is a key economic indicator that can influence investor sentiment. The better-than-expected data for July suggests a strong consumer sector, which could potentially boost the broader market and have a positive impact on the SPY ETF, which tracks the S&P 500 index.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75