Core Retail Sales (MoM) (Feb) +0.3% vs +0.5% Est.
Portfolio Pulse from Benzinga Newsdesk
Core Retail Sales in February increased by 0.3%, falling short of the estimated 0.5% growth. This indicates a slower than expected growth in consumer spending.
March 14, 2024 | 12:31 pm
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NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) may experience short-term volatility due to the lower than expected Core Retail Sales growth, as it reflects broader economic activity.
The SPDR S&P 500 ETF Trust (SPY) is sensitive to economic indicators as it represents a broad range of sectors. Lower than expected retail sales growth can signal a slowdown in consumer spending, which is a key driver of economic activity. This can lead to short-term negative sentiment among investors, potentially causing volatility in SPY's price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 75