Core Retail Sales (MoM) (Jul) 1.0% vs (0.3)% Est.
Portfolio Pulse from Benzinga Newsdesk
Core Retail Sales for July have increased by 1.0%, surpassing the estimated 0.3%.
August 15, 2023 | 12:30 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
The better-than-expected Core Retail Sales data for July may positively impact the SPY ETF, as it indicates a stronger consumer spending, which is a key driver of economic growth.
Core Retail Sales, which exclude automobile sales, are a key indicator of consumer spending, a major component of the US economy. A higher-than-expected increase suggests that consumers are spending more, which could lead to economic growth and potentially boost the SPY ETF, which tracks the S&P 500 and is heavily influenced by the state of the US economy.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75