| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
U.S. retail sales for May are forecasted to improve when the U.S. Department of Commerce’s Census Bureau releases its monthly sales data before the start of Tuesday’s trading session.
Sales are expected to tick up 0.2% in May from the prior month, as inflation eased in May and the Federal Reserve is indicating it plans to cut rates only once this year.
“Although inflation remains stubborn, the consumer price index held steady in May, and with gas prices dropping, it would be reasonable to think consumers would be feeling more positive and better stretch their household budgets,” Chip West, retail and consumer behavior expert at marketing technology company Vericast, told US News & World Report.
The retail market remained stagnant on May 15 when the Census Bureau’s retail report came out with April’s year-over-year higher sales numbers. SPDR S&P 500 Trust ETF (NYSE:SPY) ticked up 0.75% on that day, while Invesco QQQ Trust (NASDAQ:QQQ) gained 1%.
Retail giant Amazon.com Inc. (NASDAQ:AMZN) barely moved, ending May 15 at $185.99. Home Depot (NYSE:HD) gained 1% as Walmart Inc. (NYSE:WMT) stayed unchanged.
U.S. retail sales came in unchanged month-over-month in April, compared to a revised 0.6% increase in March.
Also read: Luxury Retailer RH Stock Falls After Q1 Results: Here’s Why
In February, retail sales rose 0.6% after declining in January, but they did not meet the 0.8% uptick expected by economists.
Total sales for the December 2023 through to February 2024 period were up 2.1% from the same period the prior year, according to Census Bureau data. Online retailers were among the biggest gainers in the February report, up 6.4% from the same period a year ago, while food services and drinking places were up 6.3%.
Read now: Economists React To Inflation, Retail Sales: ‘The Soft Landing Narrative Is Still A Possibility But Not A Guarantee’
Photo: Shutterstock
