Redbook U.S. Retail Sales +4.6% Week End Sept 9 Vs Year Ago
Portfolio Pulse from Benzinga Newsdesk
Redbook reported a 4.6% increase in U.S. retail sales for the week ending September 9 compared to the same period last year.
September 12, 2023 | 12:56 pm
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POSITIVE IMPACT
The reported increase in retail sales may indicate a healthy consumer spending, which could positively impact the broader market, represented by SPY.
Retail sales are a significant component of consumer spending, which drives a large part of the U.S. economy. An increase in retail sales suggests consumers are confident and spending more, which can lead to increased business revenues and potentially higher stock prices. As SPY is a broad market ETF, it could benefit from this trend.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50