USA Retail Inventories Ex Auto For March -0.2% Vs -0.1% Est.; -0.1% Prior
Portfolio Pulse from Benzinga Newsdesk
USA retail inventories excluding autos for March decreased by 0.2%, which is below the estimated decrease of 0.1% and the prior month's decrease of 0.1%.
May 15, 2024 | 2:00 pm
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The SPDR S&P 500 ETF (SPY) may experience short-term volatility due to the unexpected decrease in USA retail inventories excluding autos for March, which fell by 0.2% compared to the estimated 0.1% decrease.
The unexpected decrease in retail inventories excluding autos suggests potential weakness in the retail sector, which could negatively impact the broader market represented by SPY.
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