Retail Inventories Ex Auto (Aug) 0.6%; Prior 0.2%
Portfolio Pulse from Benzinga Newsdesk
The Retail Inventories Ex Auto for August increased by 0.6%, compared to the prior 0.2%.
September 29, 2023 | 12:31 pm
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NEUTRAL IMPACT
The increase in Retail Inventories Ex Auto may impact the SPY ETF, which tracks the S&P 500 index.
The SPY ETF is influenced by a wide range of economic indicators, including retail inventories. However, the impact of this specific indicator is not direct and depends on other factors as well.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The XRT ETF, which tracks the retail sector, may be directly impacted by the increase in Retail Inventories Ex Auto.
The XRT ETF is directly influenced by retail sector performance. An increase in Retail Inventories Ex Auto could indicate a stronger retail sector, but it could also suggest overstocking, which may negatively impact the sector. The net effect is uncertain.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80