US Core Retail Sales (MoM) (Mar) +1.1% vs +0.5% Est.
Portfolio Pulse from Benzinga Newsdesk
US Core Retail Sales for March increased by 1.1%, surpassing the estimated 0.5%. This indicates a stronger consumer spending than anticipated.
April 15, 2024 | 12:30 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) may see positive movement as stronger retail sales suggest a healthier economy, potentially boosting investor confidence.
SPY, which tracks the S&P 500, is likely to benefit from the positive retail sales data as it reflects a stronger economy. This can lead to increased investor confidence and potentially higher stock prices.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75
POSITIVE IMPACT
The SPDR S&P Retail ETF (XRT) is expected to experience a direct positive impact from the higher than expected retail sales, indicating strong consumer spending in the retail sector.
Given that XRT focuses on the retail sector, the better-than-expected retail sales figures directly suggest increased consumer spending in this sector, which is likely to lead to positive performance of the ETF.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 90