Redbook: US Retail Sales First 3 Weeks Sept. +4.1% Vs Sept. Year-Ago
Portfolio Pulse from Benzinga Newsdesk
According to Redbook, US retail sales for the first three weeks of September have increased by 4.1% compared to the same period last year.
September 19, 2023 | 12:57 pm
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POSITIVE IMPACT
The increase in US retail sales may indicate a positive economic trend, which could potentially impact the SPY ETF.
The SPY ETF tracks the S&P 500, which is a broad representation of the US stock market. An increase in retail sales suggests consumer confidence and spending are strong, which could lead to increased corporate revenues and potentially higher stock prices. Therefore, this news could have a positive impact on the SPY ETF.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50