GDP (QoQ) (Q3) +5.2% vs +4.9% Est.
Portfolio Pulse from Benzinga Newsdesk
The U.S. Gross Domestic Product (GDP) for the third quarter (Q3) has been reported to increase by 5.2%, surpassing the estimated 4.9%.
November 29, 2023 | 1:30 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) may see a positive impact as the higher-than-expected GDP growth indicates a stronger economy, which is generally good for the stock market.
The SPY ETF, which tracks the S&P 500, is likely to be positively impacted by the higher GDP growth as it suggests a healthier economy and potentially higher corporate earnings, which can drive stock prices up.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80