The Biden Dilemma: Voters Favor Trump's Hand On The Economy Even After GDP Grows, New Poll Reveals
Portfolio Pulse from Shanthi Rexaline
Despite improvements in Americans' assessment of the economy and their personal financial situations, President Joe Biden's approval rating on economic management remains unchanged at 36%. A new poll indicates that 40% of respondents trust former President Trump over Biden (34%) for better economic handling. The U.S. economy has shown growth with a 3.2% GDP increase in 2023 and a robust job market, yet inflation remains a concern. The SPDR S&P 500 ETF Trust (SPY) reached a record high, reflecting economic optimism.
March 11, 2024 | 9:46 am
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POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) reached an intraday record high of 518.22, closing slightly lower at $511.72, reflecting optimism in the U.S. economy.
The SPDR S&P 500 ETF Trust (SPY) reaching a record high is a direct reflection of investor optimism towards the U.S. economy's performance, including GDP growth, job market strength, and a slowdown in inflation. This positive sentiment, despite concerns over inflation and political economic management, suggests a bullish outlook for SPY in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90