Flat Retail Sales Report Shows 'A More Discerning Consumer' Keeps Spending, Economists Say
Portfolio Pulse from Michael Juliano
June's U.S. retail sales report shows flat growth, indicating that consumers are becoming more discerning but continue to spend. Major retailers like Walmart, Amazon, and The Home Depot saw modest gains. ETFs tracking consumer staples also rose.

July 16, 2024 | 2:37 pm
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Amazon gained 0.79% as the retail sales report showed consumers continue to spend, albeit more discerningly.
Amazon's stock rose, indicating that investors are optimistic about continued consumer spending despite the flat retail sales report.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The Home Depot saw a 1.81% increase, benefiting from consumer spending on building materials and garden equipment.
The Home Depot's stock increased significantly, driven by higher consumer spending in categories like building materials and garden equipment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The Vanguard Consumer Staples Index Fund ETF Shares rose 0.83%, showing investor confidence in consumer staples.
The ETF's rise reflects positive investor sentiment towards consumer staples, even with flat retail sales.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Walmart saw a modest gain of 0.42% following the flat retail sales report, indicating consumer resilience.
Despite flat retail sales, Walmart's stock gained, reflecting consumer resilience and positive sentiment towards the retail giant.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The Consumer Staples Select Sector SPDR Fund gained 0.45%, reflecting positive sentiment towards consumer staples.
The ETF tracking consumer staples rose, indicating investor confidence in the sector despite flat retail sales.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 60