GDP Q2 Preview: 5 ETFs To Monitor Thursday As Economic Data Unfolds
Portfolio Pulse from Piero Cingari
Investors are anticipating the release of Q2 GDP data, with forecasts suggesting a 2% growth rate. Key ETFs to monitor include DIA, IWM, XLF, TLT, and GLD, which previously reacted to GDP data. A lower-than-expected GDP could weaken growth stocks, while stronger figures might boost the U.S. dollar.
July 24, 2024 | 5:31 pm
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NEGATIVE IMPACT
The SPDR Dow Jones Industrial Average ETF (DIA) fell 0.9% after the Q1 GDP release. A lower-than-expected Q2 GDP could lead to further declines.
DIA is sensitive to GDP data. A lower-than-expected Q2 GDP could lead to declines as seen in Q1.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The iShares Russell 2000 ETF (IWM) dropped 0.6% after Q1 GDP data. A weaker Q2 GDP could result in further declines.
IWM is growth-sensitive. A lower-than-expected Q2 GDP could negatively impact the ETF.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The Financials SPDR Select Sector Fund (XLF) decreased 0.6% after Q1 GDP data. A lower Q2 GDP could lead to further declines.
XLF is sensitive to economic data. A lower-than-expected Q2 GDP could lead to declines.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The SPDR Gold Trust (GLD) increased 0.7% after Q1 GDP data. A lower Q2 GDP could lead to further gains.
GLD is a safe-haven asset. A lower-than-expected Q2 GDP could lead to gains.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The iShares 20+ Year Treasury Bond ETF (TLT) rose 0.5% after Q1 GDP data. A lower Q2 GDP could lead to further gains.
TLT benefits from economic uncertainty. A lower-than-expected Q2 GDP could lead to gains.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80