USA Retail Sales (MoM) For December 0.6% Vs 0.4% Est.; 0.3% Prior
Portfolio Pulse from Benzinga Newsdesk
USA Retail Sales for December increased by 0.6%, surpassing the estimated 0.4% and the previous month's 0.3%. This indicates a stronger consumer spending than expected during the holiday season.
January 17, 2024 | 1:31 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) may see a positive impact as the higher retail sales suggest a stronger economy and consumer confidence, which can lead to market optimism.
Higher than expected retail sales figures typically indicate a robust economy, which can lead to increased investor confidence and potentially drive up stock prices, including those within the S&P 500 index tracked by SPY.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80