USA Retail Inventories Ex Auto For November -0.9% Vs -0.8% Est.; -0.9% Prior
Portfolio Pulse from Benzinga Newsdesk
USA retail inventories excluding automobiles for November decreased by 0.9%, which is slightly more than the estimated decrease of 0.8%. This matches the prior month's decrease of 0.9%.
January 17, 2024 | 3:01 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust (SPY) could see a short-term impact due to the reported decrease in retail inventories excluding automobiles, as it reflects broader economic activity.
While the decrease in retail inventories excluding autos is a negative economic indicator, the impact on SPY is likely to be muted in the short term as it is a broad measure of the stock market and not directly tied to retail inventories. However, it could reflect general market sentiment and economic trends.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50