US GDP (QoQ) (Q2) +2.8% vs +2% Est.
Portfolio Pulse from Benzinga Newsdesk
The US GDP for Q2 grew by 2.8%, surpassing the estimated growth of 2%.
July 25, 2024 | 12:30 pm
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POSITIVE IMPACT
The US GDP growth for Q2 at 2.8% exceeded expectations of 2%, which is a positive indicator for the overall economy. This could lead to a short-term increase in the SPY ETF as it reflects the performance of the S&P 500 index.
The better-than-expected GDP growth indicates a stronger economy, which generally boosts investor confidence and can lead to higher stock prices. SPY, being an ETF that tracks the S&P 500, is likely to benefit from this positive sentiment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80