Major indexes are lower after July PPI data showed greater-than-expected inflation.
Portfolio Pulse from Benzinga Newsdesk
Major indexes have declined following the release of July's Producer Price Index (PPI) data, which indicated higher-than-expected inflation.
August 11, 2023 | 1:33 pm
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NEGATIVE IMPACT
The Dow Jones Industrial Average ETF (DIA) is likely to be negatively impacted by the higher-than-expected inflation data.
As an ETF that tracks the Dow Jones Industrial Average, DIA's performance is closely tied to the overall market sentiment. The higher-than-expected inflation data is likely to dampen investor sentiment, potentially leading to a drop in DIA's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The Russell 2000 ETF (IWM) may face downward pressure due to the inflation data.
IWM, which tracks the Russell 2000 index, could be negatively impacted by the inflation data. Higher inflation can lead to increased borrowing costs for companies, which can be particularly detrimental for the small-cap companies that make up the Russell 2000.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The NASDAQ 100 ETF (QQQ) may be negatively affected by the inflation data.
QQQ, which tracks the NASDAQ 100 index, could see a drop in its price due to the inflation data. Higher inflation can lead to increased borrowing costs, which can impact the tech-heavy NASDAQ 100 index.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The S&P 500 ETF (SPY) is likely to be negatively impacted by the inflation data.
SPY, which tracks the S&P 500 index, could see a drop in its price due to the inflation data. Higher inflation can lead to increased borrowing costs, which can impact the broad market that the S&P 500 represents.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100