USA Redbook YoY 5.6%; 4.6% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Redbook year-over-year growth rate increased to 5.6% from the previous 4.6%, 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 29, 2024 | 12:55 pm
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The increase in USA Redbook YoY growth to 5.6% from 4.6% suggests stronger retail sales, which could positively influence SPY as it reflects broader market sentiment.
The Redbook index is a measure of retail sales growth, and an increase suggests stronger consumer spending. This can boost investor confidence in the market, potentially leading to a positive impact on SPY, which tracks the S&P 500 index.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70