Redbook: U.S. Retail Sales First 2 Weeks Sept. +4.3% Vs Year Ago
Portfolio Pulse from Benzinga Newsdesk
According to Redbook, U.S. retail sales for the first two weeks of September have increased by 4.3% compared to the same period last year.
September 12, 2023 | 12:56 pm
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POSITIVE IMPACT
The increase in U.S. retail sales may indicate a positive economic outlook, potentially benefiting the SPY ETF, which tracks the S&P 500.
The SPY ETF tracks the S&P 500, which is a broad representation of the U.S. stock market. An increase in retail sales suggests consumer confidence and spending are strong, which can be a positive indicator for the economy and, by extension, the stock market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75