Major indexes are lower ahead of Wednesday's CPI report.
Portfolio Pulse from Benzinga Newsdesk
Major stock indexes have declined in anticipation of Wednesday's Consumer Price Index (CPI) report, indicating investor caution.
April 09, 2024 | 2:54 pm
News sentiment analysis
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NEGATIVE IMPACT
The Dow Jones Industrial Average ETF (DIA) is likely impacted by the anticipation of the CPI report, reflecting investor sentiment.
As DIA tracks the Dow Jones Industrial Average, any major economic indicators like the CPI report can significantly influence investor sentiment and thus DIA's price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The Russell 2000 ETF (IWM) experiences volatility due to the upcoming CPI report, indicating market sensitivity to inflation data.
IWM, which tracks the Russell 2000 index, is sensitive to economic indicators like the CPI report that can affect investor outlook on small-cap stocks.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The NASDAQ-100 ETF (QQQ) sees a downturn ahead of the CPI report, reflecting concerns over tech stock valuations in an inflationary environment.
QQQ, representing NASDAQ-100 index stocks, often includes tech companies that can be particularly affected by inflation data, hence the pre-CPI report downturn.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The S&P 500 ETF (SPY) declines as investors brace for the CPI report, indicating broad market concerns over inflation.
SPY, which tracks the S&P 500, is impacted by the anticipation of the CPI report as it reflects broader market sentiment towards inflation and economic health.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80