USA Retail Sales (MoM) For November 0.3% Vs -0.1% Est.; -0.2% Prior
Portfolio Pulse from Benzinga Newsdesk
U.S. retail sales for November showed an increase of 0.3%, surpassing the estimated decline of -0.1% and improving from the previous -0.2%.
December 14, 2023 | 1:31 pm
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POSITIVE IMPACT
The positive retail sales report indicates a stronger consumer spending trend, which could lead to a short-term positive impact on the SPY ETF as it reflects the broader market sentiment.
Retail sales are a significant indicator of consumer spending, which drives a large portion of U.S. economic activity. A better-than-expected retail sales report suggests a healthy economy, which generally supports equity markets. As SPY is a broad-based ETF that tracks the S&P 500, it is likely to benefit from the positive sentiment generated by strong retail sales data.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80