USA Retail Inventories Ex Auto For December 0.4% Vs 0.6% Est.; -0.9% Prior
Portfolio Pulse from Benzinga Newsdesk
USA retail inventories excluding automobiles for December increased by 0.4%, which is lower than the estimated 0.6% but an improvement from the previous -0.9%.
February 15, 2024 | 3:02 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) may see a neutral to slightly positive impact as the retail inventory data indicates a modest improvement in consumer demand, potentially signaling stable economic conditions.
Retail inventories are a key economic indicator, reflecting consumer demand and economic health. A rise in inventories, even if below estimates, suggests an improvement from previous declines. This can be seen as a positive signal for the broader market, potentially benefiting ETFs like SPY that track the overall market performance. However, the impact is considered neutral to slightly positive due to the miss against estimates, indicating that the improvement might not be as strong as expected.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70