Redbook: U.S. Retail Sales +3.6% Week End Sep 16 Vs Year Ago
Portfolio Pulse from Benzinga Newsdesk
According to Redbook, U.S. retail sales have increased by 3.6% for the week ending September 16 compared to the same period last year.
September 19, 2023 | 12:56 pm
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POSITIVE IMPACT
The increase in U.S. retail sales may indicate a healthy consumer spending, which could potentially have a positive impact on the broader market, represented by SPY.
Retail sales are a significant indicator of consumer spending, which accounts for a large portion of the U.S. economy. An increase in retail sales suggests that consumers are spending more, which could lead to increased business revenues and potentially higher stock prices. As SPY is a broad market ETF, it could be positively impacted by this trend.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50