US Retail Sales (MoM) (Jul) +1% vs +0.4% Est.
Portfolio Pulse from Benzinga Newsdesk
US Retail Sales for July increased by 1% month-over-month, significantly surpassing the estimated 0.4% growth.
August 15, 2024 | 12:30 pm
News sentiment analysis
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POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) is likely to see a positive impact due to the stronger-than-expected US Retail Sales for July, which indicates robust consumer spending and economic growth.
Stronger-than-expected retail sales suggest a healthier economy, which can positively impact the broader market represented by SPY.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80