USA Core Retail Sales (MoM) For July 0.4% Vs 0.1% Est.; 0.5% Prior
Portfolio Pulse from Benzinga Newsdesk
USA Core Retail Sales for July increased by 0.4%, surpassing the estimated 0.1% and slightly below the prior 0.5%.
August 15, 2024 | 12:30 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) may see a positive impact as USA Core Retail Sales for July increased by 0.4%, surpassing expectations.
The better-than-expected retail sales data suggests stronger consumer spending, which is a positive indicator for the overall economy. This could lead to a short-term increase in SPY as it reflects the performance of the S&P 500 index.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80