USA Retail Inventories Ex Auto For October -0.9% Vs -0.9% Est.; 0.4% Prior
Portfolio Pulse from Benzinga Newsdesk
USA Retail Inventories excluding automobiles for October decreased by 0.9%, matching the estimate and showing a decline from the previous 0.4%.
December 14, 2023 | 3:04 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust (SPY) may experience short-term impact due to the reported decline in retail inventories excluding automobiles, as it reflects broader economic activity.
Retail inventories are an economic indicator that can influence investor sentiment regarding the health of the retail sector and consumer spending. Since SPY tracks a broad range of companies, including those in the retail sector, this data point could have a neutral to slightly negative impact on SPY in the short term, depending on broader market interpretation and context.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50