US GDP (QoQ) (Q1) +1.3% vs +1.6% Est.
Portfolio Pulse from Benzinga Newsdesk
The US GDP for Q1 grew by 1.3% quarter-over-quarter, falling short of the estimated 1.6% growth.
May 30, 2024 | 12:30 pm
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NEGATIVE IMPACT
The US GDP growth for Q1 was 1.3%, which is below the estimated 1.6%. This could lead to short-term volatility in the SPY ETF as investors react to the slower-than-expected economic growth.
The SPY ETF, which tracks the S&P 500, is likely to experience short-term volatility due to the slower-than-expected GDP growth. Investors may react negatively to the news, leading to potential downward pressure on the ETF.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80