| ETFs to Watch on Rebounding Retail Sales in July | |
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U.S. retail sales made a comeback in July having grown 0.6% on the increased purchase of an array of products and services. The data was in stark contrast to the June reading of flat sales (and in fact 0.3% decline gauged preliminarily). This gives cues of a solidifying U.S. economy since the start of the third quarter as both job gains and consumer spending remains impressive.
The combined impact of both key economic reading were enough to spur the Fed to vote for the first rate hike in almost a decade as early as next month, since the global investing backdrop remains reasonable (read: ETFs to Lose or Gain from Solid July Job Data). Sales generation was witnessed in 10 out of 13 groups with online stores topping the list with 1.5% sales gains. Other sections that consumers thronged were motor vehicle; sporting goods, music and books stores; furniture stores; building materials and garden equipment and food and beverage joints, as per tradingeconomics.
The areas that consumers spent on last month indicate that they have started to loosen their purse strings for discretionary purchases. However, barring auto sales, the number ticked up 0.4%, repeating the June story.
ETF Impact
All the three retail ETFs – SPDR S&P Retail ETF (XRT), Market Vectors Retail ETF (RTH) and PowerShares Dynamic Retail Portfolio (PMR) – would be in watch in the days to come on strengthening retail sales. This positive data was much-needed in the present market spectrum especially after the sudden Chinese currency devaluation which some viewed as a potential threat to the looming Fed lift-off (read: U.S. Treasury ETFs Rise on Yuan Devaluation).
Jolted by the global market crisis, positive retail sales could not reflect its full strength on the bourses on August 13. XRT was down about 0.2% though RTH and PMR added 0.06% and 0.6%, respectively. Investors should note that XRT and RTH have a Zacks ETF Rank #1 (Strong Buy) while PMR has a Zacks ETF Rank #3 (Hold).
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Prb Energy Inc.
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CODE : PRB |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Prb Energy is a and oil development stage company based in United states of america. Prb Energy is listed in Germany and in United States of America. Its market capitalisation is US$ 214.4 millions as of today (€ 188.5 millions). Its stock quote reached its lowest recent point on April 25, 2008 at US$ 0.10, and its highest recent level on June 28, 2019 at US$ 24.58. Prb Energy has 8 722 000 shares outstanding. |