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June Retail Sales Rejoice: ETFs & Stocks to Bet On

Spreading cheer at the start of Q3, retail sales grew for the third consecutive month in June. Sales rose 0.6% sequentially in June. The gain followed the previous month’s downwardly revised 0.2% rise. June retail sales also beat economists’ forecast of a 0.1% rise. On a year-over-year basis, sales soared 2.7%, gaining steam from May’s 2.5% rise.

Eleven of the 13 key categories exhibited stronger sales in June than the previous month. Sales at building material and garden equipment and supplies dealers (up 3.9%), gas stations (up 1.2%), online retailers (1.1%), miscellaneous store retailers (up 0.9%); sporting goods and music stores (up 0.8%) were among the key drivers.

Furniture and home furnishings (up 0.5%), health and personal care stores (up 0.7%) and food and beverage stores (0.5%) are also worth a mention. Sales, barring automobiles, gasoline, building materials and food services – termed as core sales – rose 0.5% last month following a 0.5% increase in May.

Wage gains may have helped in boosting retail sales lately. Also, a dovish Fed is perhaps acting as a tailwind as a few more months of cheap dollar should boost consumers’ purchases and the investing world. With this and some other upbeat economic reading including Job data, manufacturing numbers and inflation data, market watchers may again start...