USA Core Retail Sales (MoM) For August 0.6% Vs 0.4% Est.; Prior 0.7%
Portfolio Pulse from Benzinga Newsdesk
USA Core Retail Sales for the month of August increased by 0.6%, beating the estimated 0.4%. However, this is lower than the prior month's increase of 1.0%.
September 14, 2023 | 12:31 pm
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The SPY ETF, which tracks the S&P 500, may be impacted by the higher-than-expected retail sales data, as it reflects the overall health of the US economy.
Retail sales data is a key economic indicator, reflecting consumer spending, which makes up a significant portion of the US economy. Higher-than-expected data suggests a healthy economy, which can positively impact the stock market and, by extension, the SPY ETF which tracks the S&P 500.
CONFIDENCE 80
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RELEVANCE 75