Ford Motor Co ( F ) shares are trading higher by 2.8% to $10.47 Thursday following the release of robust U.S. retail sales data, which highlighted a significant rebound in consumer spending, particularly in the automotive sector. The positive economic indicators might be bolstering investor confidence in the automaker’s financial outlook.

What Happened: U.S. retail sales surged by 1% in July compared to the previous month, sharply rebounding from June’s stagnation and far outpacing the anticipated 0.3% growth, according to preliminary estimates.

This increase in consumer spending was led by a notable 3.6% jump in sales at motor vehicle and parts dealers, underscoring strong demand for new vehicles. As a major player in the automotive industry, Ford is poised to benefit directly from this uptick in consumer interest.

The broader retail landscape also showed signs of resilience, with sales excluding motor vehicles and parts growing by 0.4% month-over-month, exceeding economist expectations. This improvement in consumer spending reflects heightened confidence and purchasing power, which is crucial for big-ticket items like automobiles.

Analysts suggest that a more confident consumer base is likely to boost Ford’s sales in the coming months, enhancing the company’s revenue prospects.

Read Also: Walmart Q2 Earnings: E-commerce and Advertising Businesses Fuel Revenue And Profit Beat, Hikes Annual Guidance

How To Buy F Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Ford Motor’s case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, F has a 52-week high of $14.85 and a 52-week low of $9.49.