Markets Waver On Mixed Economic Data: 5 ETFs Moving Wednesday
Portfolio Pulse from Piero Cingari
Markets reacted to mixed U.S. economic data on Wednesday, initially interpreting the data as a sign of easing inflationary pressures, but later expressing concerns over potential economic deceleration. The Bureau of Economic Analysis lowered Q2 growth projections and the PCE price index, a key inflation gauge. The labor market also showed signs of a slowdown in new job additions. The U.S. dollar fell 0.5%, and Treasury yields dropped. Major ETFs with over $15 billion in AUM showing positive returns included SPDR Gold Trust (GLD), Energy Select Sector SPDR Fund (XLE), Industrials Select Sector SPDR Fund (XLI), SPDR Portfolio S&P 500 Growth (SPYG), and iShares Russell 1000 Growth ETF (IWF).
August 30, 2023 | 3:47 pm
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POSITIVE IMPACT
SPDR Gold Trust (GLD) showed positive returns amid mixed economic data.
The positive return of GLD indicates that investors may be turning to gold as a safe haven amid economic uncertainty.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
iShares Russell 1000 Growth ETF (IWF) showed positive returns amid mixed economic data.
The positive return of IWF indicates that growth stocks may be performing well despite economic uncertainty.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
SPDR Portfolio S&P 500 Growth (SPYG) showed positive returns amid mixed economic data.
The positive return of SPYG indicates that growth stocks may be performing well despite economic uncertainty.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Energy Select Sector SPDR Fund (XLE) showed positive returns amid mixed economic data.
The positive return of XLE indicates that the energy sector may be performing well despite economic uncertainty.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Industrials Select Sector SPDR Fund (XLI) showed positive returns amid mixed economic data.
The positive return of XLI indicates that the industrials sector may be performing well despite economic uncertainty.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80