U.S. Retail Inventories Ex Auto For February 0.4% Vs 0.4% Est.; 0.3% Prior
Portfolio Pulse from Benzinga Newsdesk
U.S. retail inventories excluding automobiles for February increased by 0.4%, matching the estimates and showing a slight increase from the previous month's 0.3%.
April 15, 2024 | 2:00 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 aligns with estimates, indicating steady economic activity.
The U.S. retail inventories report, by matching estimates, suggests a stable economic environment. For broad market ETFs like SPY, which tracks the S&P 500, such economic indicators can have a mild positive impact by reinforcing investor confidence in steady economic growth. However, since the data was expected, the impact is likely to be moderate.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70