Economist React To May Retail Sales Data: 'Consumer Spending Is Cooling In A Fairly Orderly Fashion'
Portfolio Pulse from Michael Juliano
U.S. retail sales for May fell short of expectations, signaling a potential slowdown in economic growth. The U.S. Census Bureau reported a 0.1% increase from April to May, missing the 0.2% forecast. Major ETFs and retailers had mixed reactions, with some gaining slightly and others slipping. Economists expressed concerns about the implications for consumer spending and economic growth.
June 18, 2024 | 4:44 pm
News sentiment analysis
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NEGATIVE IMPACT
Amazon.com Inc. slipped 0.90%, showing a negative reaction to the retail sales data.
The decline in AMZN indicates a negative sentiment towards Amazon, possibly due to concerns about consumer spending.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 90
NEGATIVE IMPACT
First Trust Nasdaq Food & Beverage ETF slipped 0.38%, showing a negative reaction to the retail sales data.
The decline in FTXG indicates a negative sentiment towards the food and beverage sector in response to the retail sales miss.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
NEUTRAL IMPACT
S&P Retail ETF remained unchanged despite the retail sales miss, indicating a neutral market reaction.
The unchanged price of XRT suggests that the market had already priced in the potential for weaker retail sales, leading to a neutral impact.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Veg Tech Plant-based Innovation & Climate ETF gained 0.44%, reflecting a positive market reaction to the retail sales data.
The gain in EATV suggests that the plant-based and climate-focused sectors are viewed positively, even with weaker retail sales.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
The Home Depot, Inc. picked up 1.31%, reflecting a positive market reaction to the retail sales data.
The increase in HD suggests that investors view Home Depot as resilient and potentially benefiting from shifts in consumer spending.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 90
POSITIVE IMPACT
Amplify Online Retail ETF gained 0.17%, reflecting a positive market reaction to the retail sales data.
The gain in IBUY suggests that online retail remains strong, even as overall retail sales miss expectations.
CONFIDENCE 85
IMPORTANCE 50
RELEVANCE 70
POSITIVE IMPACT
Invesco Food & Beverage ETF went up 0.30%, indicating a positive reaction to the retail sales data.
The increase in PBJ suggests that the food and beverage sector is viewed positively, even with weaker retail sales.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
VanEck Retail ETF edged up 0.06%, showing a slight positive reaction to the retail sales data.
The slight increase in RTH indicates a mild positive sentiment, possibly due to resilience in certain retail sectors.
CONFIDENCE 85
IMPORTANCE 50
RELEVANCE 70
POSITIVE IMPACT
Walmart Inc. went up 0.35%, indicating a positive reaction to the retail sales data.
The increase in WMT suggests that investors view Walmart as resilient in the face of weaker retail sales.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 90