Retail Sales (MoM) (May) +0.1% vs +0.3% Est.
Portfolio Pulse from Benzinga Newsdesk
Retail sales for May increased by 0.1%, falling short of the estimated 0.3% growth. This indicates a slower-than-expected growth in consumer spending.
June 18, 2024 | 12:30 pm
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NEGATIVE IMPACT
The SPDR S&P 500 ETF (SPY) may experience short-term volatility due to the lower-than-expected retail sales growth, which could affect overall market sentiment.
The SPDR S&P 500 ETF (SPY) is likely to be impacted by the retail sales data as it reflects consumer spending trends, a key economic indicator. The lower-than-expected growth may lead to concerns about economic strength, causing short-term market volatility.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100