Redbook U.S. Retail Sales +5.6% Week End Dec 30 Vs Year Ago; U.S. Retail Sales First 5 Weeks Dec +3.9% Vs Dec Year Ago
Portfolio Pulse from Benzinga Newsdesk
Redbook data indicates U.S. retail sales increased by 5.6% for the week ending December 30 compared to the same week last year. For the first five weeks of December, retail sales were up 3.9% compared to the same period the previous year.
January 03, 2024 | 1:56 pm
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POSITIVE IMPACT
The SPY ETF, which tracks the S&P 500, may see a positive impact as the Redbook retail sales data suggests a healthy consumer spending environment.
The SPY ETF is a broad market index fund, and positive retail sales data typically indicates a strong consumer sector, which can lead to higher corporate earnings and potentially boost stock prices. However, the impact may be somewhat diluted as SPY represents a wide range of sectors, not just retail.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70