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SMLL - There Could Be A Significant Rebound In Spending This Summer
Direxion Daily Small Cap Bull 2X Shares
Retail Sales
As expected, retails sales plunged 8.7% in March, as the nationwide shutdown took its toll on consumer spending. Spending on discretionary items collapsed, while purchases of necessities soared. Gasoline sales tanked 17.2% because no one is driving, with the one upside being that some insurance companies are returning premiums to their customers. Sales of all types of alcoholic beverages have surged, as consumers look to pass the time away under the influence, while they watch Netflix (NFLX) and shop on Amazon (AMZN).
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