5 ETFs Responding To PPI Surge And Consumer Sentiment Dip On Friday
Portfolio Pulse from Piero Cingari
Two economic reports released on Friday showed a surge in the Producer Price Index (PPI) inflation and a dip in the University of Michigan’s consumer sentiment index. The PPI inflation was up 0.8% YoY in July, surpassing analysts’ projections of 0.7%. The consumer sentiment index dipped from 71.6 to 71.2 in the first two weeks of August. The news impacted several ETFs including Energy Select Sector SPDR Fund (XLE), Vanguard Health Care ETF (VHT), iShares MSCI Emerging Market ETF (EEM), Technology Select Sector SPDR Fund (XLK), and Invesco QQQ Trust (QQQ).
August 11, 2023 | 4:47 pm
News sentiment analysis
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POSITIVE IMPACT
The Vanguard Health Care ETF (VHT) rose 0.5% after the economic reports.
The rise in VHT could be due to the dip in consumer sentiment, which could lead to increased healthcare spending.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The Energy Select Sector SPDR Fund (XLE) rose 1.4% after the economic reports.
The rise in XLE is likely due to the increase in PPI inflation, which could lead to higher energy prices.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The iShares MSCI Emerging Market ETF (EEM) fell 1.6% after the economic reports.
The fall in EEM could be due to the surge in PPI inflation, which could negatively impact emerging markets.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The Invesco QQQ Trust (QQQ) fell 0.9% after the economic reports.
The fall in QQQ could be due to the surge in PPI inflation and the dip in consumer sentiment, which could negatively impact the overall market.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The Technology Select Sector SPDR Fund (XLK) fell 0.9% after the economic reports.
The fall in XLK could be due to the dip in consumer sentiment, which could negatively impact technology spending.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80