US Consumer Sentiment Drops In September, Inflation Expectations Fall Sharply
Portfolio Pulse from Piero Cingari
US consumer sentiment fell from 69.5 in August to 67.7 in September, missing expectations of 69.1. Despite the decline, the gauge remains above the six-month moving average of 64.62. Expectations for inflation over the next year fell sharply from 3.5% to 3.1%. The SPDR S&P 500 ETF Trust (NYSE:SPY) fell 0.7% in response to the consumer sentiment data.
September 15, 2023 | 2:16 pm
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NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (NYSE:SPY) fell 0.7% in response to the drop in US consumer sentiment and inflation expectations.
The SPDR S&P 500 ETF Trust (NYSE:SPY) is directly impacted by the overall sentiment of the US economy. The drop in consumer sentiment and inflation expectations indicates a potential slowdown in economic activity, which can negatively impact the performance of the ETF.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100