5 Stocks, 5 ETFs Make Moves After Friday Release Of Fed's Preferred Inflation Data
Portfolio Pulse from Piero Cingari
The Bureau of Economic Analysis released its report on the Price Consumption Expenditure (PCE) price index, showing a slight increase in inflation from 3.4% in July to 3.5% in August. Following the report, several stocks and ETFs experienced significant movement. Notably, NIKE Inc. (NKE) soared 6.9% after reporting better-than-expected Q2 earnings, and Walgreens Boots Alliance Inc. (WBA) rose over 6% amid news of a potential new CEO and a revised price target. ETFs such as SPDR Regional Banking ETF (KRE) and The Consumer Discretionary Select Sector SPDR Fund (XLY) also saw increases.
September 29, 2023 | 3:37 pm
News sentiment analysis
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POSITIVE IMPACT
SPDR Regional Banking ETF (KRE) saw a 2.2% increase following the PCE price index report.
The PCE price index report likely influenced investor sentiment towards banking stocks, leading to the increase in the KRE ETF.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
NIKE Inc. saw a 6.9% increase in stock price after reporting better-than-expected Q2 earnings.
The better-than-expected earnings report from NIKE Inc. likely boosted investor confidence, leading to the increase in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Walgreens Boots Alliance Inc. rose over 6% amid news of a potential new CEO and a revised price target.
The potential appointment of a new CEO and the revised price target likely influenced investor sentiment, leading to the increase in Walgreens' stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The Consumer Discretionary Select Sector SPDR Fund (XLY) saw a 1.5% increase following the PCE price index report.
The PCE price index report likely influenced investor sentiment towards consumer discretionary stocks, leading to the increase in the XLY ETF.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100