USA Retail Sales (MoM) For August 0.1% Vs -0.2% Est.; 1.0% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Retail Sales for August increased by 0.1%, surpassing the estimated decline of -0.2%, but showing a slowdown from the 1.0% growth in July. This indicates a mixed economic signal, with retail sales growth slowing but still positive.
September 17, 2024 | 12:30 pm
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The SPDR S&P 500 ETF (SPY) may experience slight positive movement as the better-than-expected retail sales data for August suggests consumer spending is still growing, albeit at a slower pace.
The SPY ETF, which tracks the S&P 500, could be positively impacted by the better-than-expected retail sales data. Although the growth rate has slowed, the fact that sales increased rather than decreased as expected suggests consumer spending remains resilient, which is generally positive for the stock market.
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