Core Retail Sales (MoM) (Aug) +0.1% vs + 0.2% Est.
Portfolio Pulse from Benzinga Newsdesk
The Core Retail Sales for August increased by 0.1%, which is below the estimated 0.2%. This indicates a slower growth in consumer spending than expected.
September 17, 2024 | 12:30 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
The SPDR S&P 500 ETF (SPY) may experience slight pressure due to the lower-than-expected Core Retail Sales growth, indicating weaker consumer spending.
SPY, as an ETF tracking the S&P 500, is sensitive to economic indicators like retail sales. The lower-than-expected growth in Core Retail Sales suggests weaker consumer spending, which could negatively impact the broader market sentiment and, consequently, SPY's performance.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50