CORRECTION: USA Redbook (YoY) 5.3% Vs 4.9% Prior
Portfolio Pulse from Benzinga Newsdesk
The latest USA Redbook data shows a year-over-year increase of 5.3%, up from the previous 4.9%. This indicates a higher than expected growth in retail sales, which could signal strength in consumer spending.
April 23, 2024 | 12:59 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) may see positive short-term movement as the Redbook data suggests stronger consumer spending, potentially boosting market sentiment.
The SPDR S&P 500 ETF Trust (SPY) is likely to be positively impacted in the short term by the latest Redbook data, as it reflects an increase in consumer spending. This is generally a positive indicator for the overall economy and can lead to higher market sentiment, potentially benefiting broad market ETFs like SPY.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 75