USA Retail Inventories Ex Auto For July 0.5% Vs 0.5% Est.; 0.3% Prior
Portfolio Pulse from Benzinga Newsdesk
USA retail inventories excluding autos for July increased by 0.5%, matching the estimated growth and showing an improvement from the 0.3% growth in the prior month.
September 17, 2024 | 2:00 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) may see a neutral to slightly positive impact as retail inventories excluding autos met expectations with a 0.5% increase in July, indicating stable economic conditions.
The SPY ETF, which tracks the S&P 500, may be influenced by economic indicators such as retail inventories. The 0.5% increase in July, meeting expectations, suggests stable economic conditions, which could support the stock market. However, the impact is likely neutral as the data met expectations.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50