7 Stocks, 5 ETFs Move On Friday As Fed's Preferred Inflation Rate Hits 3-Year Low
Portfolio Pulse from Piero Cingari
U.S. equity futures rose slightly after the Fed's preferred inflation gauge, the PCE, fell to a 3-year low of 2.6% in May. This increased market expectations for a September rate cut. Top-performing stocks included Southern Copper, Intuit, and Toronto-Dominion Bank. ETFs like Global X Copper Miners and iShares Russell 2000 also saw gains.

June 28, 2024 | 1:39 pm
News sentiment analysis
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POSITIVE IMPACT
Global X Copper Miners ETF rose 1.6% following the PCE report, reflecting positive market sentiment.
Lower inflation expectations generally benefit commodity-related ETFs like Global X Copper Miners, as it can lead to lower input costs and higher profit margins for the underlying companies.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Deere & Co. gained 0.76% after the PCE report, reflecting positive market sentiment.
Lower inflation expectations can lead to lower interest rates, which generally benefit industrial companies like Deere & Co. by reducing borrowing costs.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Freeport-McMoRan Inc. gained 0.61% after the PCE report, reflecting positive market sentiment.
Lower inflation expectations generally benefit commodity producers like Freeport-McMoRan, as it can lead to lower input costs and higher profit margins.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
VanEck Gold Miners ETF rose 0.7% following the PCE report, reflecting positive market sentiment.
Lower inflation expectations generally benefit commodity-related ETFs like VanEck Gold Miners, as it can lead to lower input costs and higher profit margins for the underlying companies.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
GE Aerospace saw a 0.71% increase following the PCE report, benefiting from lower inflation expectations.
Lower inflation expectations can lead to lower interest rates, which generally benefit industrial companies like GE Aerospace by reducing borrowing costs.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Intuit Inc. gained 1.29% after the PCE report, reflecting positive market sentiment.
Lower inflation expectations can lead to lower interest rates, which generally benefit tech companies like Intuit by reducing borrowing costs.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
iShares Russell 2000 ETF gained 1% after the PCE report, reflecting positive market sentiment.
Lower inflation expectations can lead to lower interest rates, which generally benefit small-cap stocks included in the iShares Russell 2000 ETF by reducing borrowing costs.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
SPDR S&P Regional Banking ETF rose 0.9% following the PCE report, reflecting positive market sentiment.
Lower inflation expectations can lead to lower interest rates, which generally benefit regional banks included in the SPDR S&P Regional Banking ETF by reducing borrowing costs.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
ServiceNow Inc. saw a 0.58% increase following the PCE report, benefiting from lower inflation expectations.
Lower inflation expectations can lead to lower interest rates, which generally benefit tech companies like ServiceNow by reducing borrowing costs.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Southern Copper saw a 1.64% increase following the PCE report, benefiting from lower inflation expectations.
Lower inflation expectations generally benefit commodity producers like Southern Copper, as it can lead to lower input costs and higher profit margins.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Toronto-Dominion Bank saw a 0.82% increase following the PCE report, benefiting from lower inflation expectations.
Lower inflation expectations can lead to lower interest rates, which generally benefit financial institutions like Toronto-Dominion Bank by reducing borrowing costs.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
The Energy Select Sector SPDR Fund gained 0.9% after the PCE report, reflecting positive market sentiment.
Lower inflation expectations can lead to lower interest rates, which generally benefit energy companies included in the Energy Select Sector SPDR Fund by reducing borrowing costs.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70