USA Core Retail Sales (MoM) For September 0.6% Vs 0.2% Est.; 0.9% Prior
Portfolio Pulse from Benzinga Newsdesk
USA Core Retail Sales for September increased by 0.6%, beating the estimated 0.2% and higher than the prior 0.9%.
October 17, 2023 | 12:30 pm
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POSITIVE IMPACT
The higher than expected USA Core Retail Sales for September may positively impact the SPY ETF, as it indicates a stronger economy.
The SPY ETF tracks the S&P 500, which is a broad representation of the US economy. Higher retail sales indicate increased consumer spending, which is a major component of the economy. Therefore, stronger than expected retail sales data could potentially lead to a positive impact on the SPY ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75