USA Redbook (YoY) 5.4% Vs 5.3% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Redbook year-over-year growth rate increased to 5.4% from the previous 5.3%, indicating a slight improvement in retail sales performance.
October 08, 2024 | 1:10 pm
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POSITIVE IMPACT
The increase in the USA Redbook YoY growth rate to 5.4% from 5.3% suggests a slight improvement in retail sales, which could positively impact the SPDR S&P 500 ETF (SPY) as it reflects broader economic conditions.
The SPDR S&P 500 ETF (SPY) is influenced by overall economic indicators like retail sales. The slight increase in the Redbook YoY growth rate suggests improved consumer spending, which is a positive sign for the economy and could lead to a short-term positive impact on SPY.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50