Major indexes are higher following softer-than-expected July CPI data.
Portfolio Pulse from Benzinga Newsdesk
Major indexes have risen following the release of softer-than-expected July Consumer Price Index (CPI) data.
August 10, 2023 | 1:45 pm
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POSITIVE IMPACT
The Dow Jones Industrial Average ETF (DIA) may have been positively impacted by the softer-than-expected July CPI data.
Softer CPI data suggests lower inflation, which can be positive for stocks as it reduces the pressure on the Federal Reserve to raise interest rates. This is likely to have a positive impact on DIA.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
The Russell 2000 ETF (IWM) may have been positively impacted by the softer-than-expected July CPI data.
Softer CPI data suggests lower inflation, which can be positive for stocks as it reduces the pressure on the Federal Reserve to raise interest rates. This is likely to have a positive impact on IWM.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
The NASDAQ 100 ETF (QQQ) may have been positively impacted by the softer-than-expected July CPI data.
Softer CPI data suggests lower inflation, which can be positive for stocks as it reduces the pressure on the Federal Reserve to raise interest rates. This is likely to have a positive impact on QQQ.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
The S&P 500 ETF (SPY) may have been positively impacted by the softer-than-expected July CPI data.
Softer CPI data suggests lower inflation, which can be positive for stocks as it reduces the pressure on the Federal Reserve to raise interest rates. This is likely to have a positive impact on SPY.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75