Retail sales rise to $447.7 billion
According to the U.S. Census Bureau, month-over-month retail sales rose by 0.2% in August. The rise was primarily driven by miscellaneous store retailers, food services, and the motor vehicle sector, while the offsetting effect was mainly from gasoline stations and the construction sector.
There was a rise of 2.2% in retail sales on a year-over-year basis. Retail sales have risen in the last six months, which points to a strengthening in the US economy. Retail sales data are being watched closely by the Federal Reserve.
US dollar gains on positive retail sales
The US Dollar index was trading steady for the day except the uptick at the time of retail sales data release. The US Dollar Index posted a high of 95.67 and ended the day at 95.61 levels. The Federal Reserve meeting will give further direction to the dollar index. The dollar index ended the day on September 15, 2015, at 0.38% higher.
Impact on the market
The retail ETFs were positive on September 15, 2015, post the release of retail sales data, as the SPDR S&P Retail ETF (XRT) was seen rising by 0.76%. The VanEck Vectors Retail ETF (RTH) also went up by 0.52%.
United Parcel Service (UPS) saw substantial gains of 3.62% at the end of trade on September 15, 2015. FedEx Corporation (FDX) saw a rise of 2.51%. Citigroup (C) was another major gainer on September 15 as the stock rose by 2.00% for the day.