Retail sales are a significant indicator of consumer spending, which drives a large portion of the U.S. economy. The SPDR S&P 500 ETF Trust (SPY), which tracks the performance of the S&P 500, may be impacted by these figures as they reflect on the overall economic health. The lower-than-expected growth suggests a cautious consumer behavior, which could lead to slight market volatility. However, the improvement from the previous month's decline indicates some resilience, making the impact neutral to slightly negative in the short term.