USA Redbook (YoY) 5.3%; 4.4% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Redbook year-over-year growth rate increased to 5.3% from the previous 4.4%, indicating a rise in retail sales. This data can influence market sentiment and impact ETFs like SPY, which tracks the S&P 500 index.
October 01, 2024 | 12:57 pm
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POSITIVE IMPACT
The increase in the USA Redbook year-over-year growth rate to 5.3% suggests stronger retail sales, which could positively influence the SPY ETF as it reflects broader market sentiment.
The USA Redbook data is a measure of retail sales growth, which is a key economic indicator. An increase in this metric suggests stronger consumer spending, which can boost investor confidence in the market. As SPY tracks the S&P 500, a positive sentiment in retail sales can lead to an upward movement in SPY.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70