Economists React To Inflation, Retail Sales: 'The Soft Landing Narrative Is Still A Possibility But Not A Guarantee'
Portfolio Pulse from Piero Cingari
Recent updates on inflation and retail sales indicate slowing price pressures and weaker-than-expected consumer spending in the U.S. The S&P 500 and Nasdaq 100 rallied, while Treasury yields fell, boosting the iShares 20+ Year Treasury Bond ETF. Economists remain cautiously optimistic about the market and Federal Reserve policy.
May 15, 2024 | 4:13 pm
News sentiment analysis
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POSITIVE IMPACT
The Invesco QQQ Trust (QQQ) rose by 0.9%, driven by positive market sentiment following the latest inflation and retail sales data, reaching new record highs.
The tech-heavy Nasdaq 100, tracked by QQQ, benefited from the positive market sentiment, leading to a significant rally.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) saw a 0.8% rally as traders reacted positively to slowing inflation and flat retail sales, hitting fresh record highs.
The positive market reaction to the inflation and retail sales data indicates investor confidence, leading to a rally in SPY.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The iShares 20+ Year Treasury Bond ETF (TLT) increased by 1.2% as Treasury yields fell, marking its best session since early March.
Falling Treasury yields boosted TLT, reflecting investor expectations of potential rate cuts by the Federal Reserve.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100