Fed Chair Powell Says Recent Indicators Suggest Economic Growth Still Expanding At Solid Pace; Private Domestic Final Purchases, A Clearer Signal, Is Still Strong; Consumer Spending Remains Solid; Investment In Equipment Has Picked Up From Anemic Pace
Portfolio Pulse from Benzinga Newsdesk
Fed Chair Powell indicates that recent economic indicators suggest solid economic growth. Private domestic final purchases and consumer spending remain strong, and investment in equipment has picked up from an anemic pace.
June 12, 2024 | 6:33 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) is likely to see positive movement due to Fed Chair Powell's comments on solid economic growth, strong consumer spending, and increased investment in equipment.
Fed Chair Powell's positive outlook on economic growth, consumer spending, and investment in equipment suggests a favorable environment for the broader market, which is reflected in SPY.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 80