US Redbook (YoY) 5.2% Vs 5.0% Prior
Portfolio Pulse from Benzinga Newsdesk
The US Redbook year-over-year growth rate increased to 5.2% from the previous 5.0%, indicating a slight improvement in retail sales performance.
September 04, 2024 | 12:56 pm
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POSITIVE IMPACT
The increase in the US Redbook YoY growth rate to 5.2% from 5.0% suggests a modest improvement in retail sales, which could positively impact the SPY ETF as it reflects the overall market sentiment.
The SPY ETF, which tracks the S&P 500, could benefit from improved retail sales as indicated by the higher US Redbook YoY growth rate. This suggests a healthier consumer spending environment, potentially boosting market sentiment.
CONFIDENCE 80
IMPORTANCE 60
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