US GDP (QoQ) (Q4) +3.4% vs +3.2% Est.
Portfolio Pulse from Benzinga Newsdesk
The US GDP for Q4 showed a growth of 3.4%, surpassing the estimated 3.2%. This indicates a stronger than expected economic performance.
March 28, 2024 | 12:30 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) is likely to experience positive momentum following the higher than expected US GDP growth for Q4.
As an ETF that tracks the S&P 500, SPY is directly influenced by the overall economic performance of the US. A higher than expected GDP growth rate suggests a robust economic environment, which is generally positive for stock markets and, by extension, for SPY. Investors might see this as a sign of strength and could increase their investments in equities, leading to a potential rise in SPY's price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90