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Retail ETFs Holding Near Highs After Sales Data Offers Encouragement

By: ETFdb
Stocks kicked off today’s session with a rally thanks to encouraging M&A activity along with upbeat economic data. Shares of Safeway popped upwards of 8% as the bellwether U.S. grocery chain announced it is selling its Canadian stores; the bulls also appreciated the latest retail sales report, which came in just above analysts’ expectations [see The Best Dividend ETF For Every Investment Objective]. May Retail Sales Better-Than-Expected The U.S. Census Bureau report from this morning showed an uptick in retail sales growth over the past month, helping to add fundamental fuel to the ongoing rally on Wall Street. May retail sales totaled roughly $421.1 billion, marking a 0.6% increase from last month’s reading, and also surpassing analysts’ estimates of 0.5%. Sales data was largely bolstered by a surge in auto demand; in fact, excluding auto sales, May retail sales increased by only 0.3% [see also 5 Reasons Not to Flee Non-US [...] Click here to read the original article on ETFdb.com. Related Posts: ETFdb Weekly Watchlist: DXJ, EU, XRT Hinge On BoJ, German Court Ruling, And Consumer Data ETFdb Weekly Watchlist: XRT, EWJ, FXI Hinge On Consumer, BOJ, And Chinese Manufacturing Data ETFs To Play The Online Sales Tax Reform Retail ETFs In Focus After Monthly Sales Report ETFdb Weekly Watchlist: XRT, EWG, XHB Hinge On Retail, Sentiment And Housing Data
Stocks kicked off today’s session with a rally thanks to encouraging M&A activity along with upbeat economic data. Shares of Safeway  popped upwards of 8% as the bellwether U.S. grocery chain announced it is selling its Canadian stores; the bulls also appreciated the latest retail sales report, which came in just above analysts’ expectations [see The Best Dividend ETF For Every Investment Objective]. May Retail Sales Better-Than-Expected The U.S. Census Bureau report from this morning showed an uptick in retail sales growth over the past month, helping to add fundamental fuel to the ongoing rally on Wall Street. May retail sales totaled roughly $421.1 billion, marking a 0.6% increase from last month’s reading, and also surpassing analysts’ estimates of 0.5%. Sales data was largely bolstered by a surge in auto demand; in fact, excluding auto sales, May retail sales increased by only 0.3% [see also 5 Reasons Not to Flee Non-US [...]

Click here to read the original article on ETFdb.com.

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