Retail Sales Preview: May Numbers Expected To Rise As Consumers 'Feeling More Positive'
Portfolio Pulse from Michael Juliano
U.S. retail sales for May are expected to rise by 0.2% as inflation eases and consumer sentiment improves. The Census Bureau will release the data before Tuesday's trading session. Previous retail sales reports had mixed impacts on major stocks and ETFs.
June 17, 2024 | 8:34 pm
News sentiment analysis
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POSITIVE IMPACT
Home Depot (HD) could see a positive impact if retail sales data is strong, as it gained 1% on May 15 following the previous retail report.
HD gained 1% on the release of positive retail sales data previously. A similar reaction is expected if May's data is favorable.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Invesco QQQ Trust (QQQ) may experience a positive impact if retail sales data is strong, as it gained 1% on May 15 following the previous retail report.
QQQ gained 1% on the release of positive retail sales data previously. A similar reaction is expected if May's data is favorable.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
SPDR S&P 500 Trust ETF (SPY) is likely to see a positive impact if retail sales data meets or exceeds expectations, as it did previously with a 0.75% gain on May 15.
SPY previously gained 0.75% on the release of positive retail sales data. A similar reaction is expected if May's data is favorable.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Amazon.com Inc. (AMZN) may see limited movement as it barely moved on May 15 despite positive retail sales data.
AMZN showed limited movement on May 15 despite positive retail sales data, indicating a potential neutral reaction to the upcoming report.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
NEUTRAL IMPACT
Walmart Inc. (WMT) may see limited movement as it remained unchanged on May 15 despite positive retail sales data.
WMT showed limited movement on May 15 despite positive retail sales data, indicating a potential neutral reaction to the upcoming report.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60