Fed's Favorite Inflation Gauge Falls To 2.5%, Lowest Since February 2021, But Core Remains Sticky: 10 ETFs To Monitor Thursday
Portfolio Pulse from Piero Cingari
The latest PCE report showed mixed results: the headline index fell to 2.5%, the lowest since February 2021, while the core component remained steady at 2.6%. Personal income and spending rose less than expected. Despite this, U.S. equity futures maintained gains, and several ETFs showed notable pre-market increases.
July 26, 2024 | 1:29 pm
News sentiment analysis
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POSITIVE IMPACT
ARK Innovation ETF (ARKK) increased by 1.8% in pre-market trading after the PCE report.
ARKK's rise suggests investor confidence in innovation and technology sectors, despite mixed economic signals.
CONFIDENCE 85
IMPORTANCE 65
RELEVANCE 75
POSITIVE IMPACT
VanEck Gold Miners ETF (GDX) saw a 1.1% increase in pre-market trading post-PCE report.
GDX's rise suggests a positive outlook for gold miners, likely driven by lower Treasury yields.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
iShares Russell 2000 ETF (IWM) increased by 1.3% in pre-market trading post-PCE report.
IWM's rise suggests strong investor interest in small-cap stocks, even with mixed economic indicators.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
US Global JETS ETF (JETS) rose 1.2% in pre-market trading following the PCE report.
JETS' rise indicates investor confidence in the airline sector, despite mixed economic signals.
CONFIDENCE 75
IMPORTANCE 45
RELEVANCE 55
POSITIVE IMPACT
iShares Semiconductor ETF (SOXX) rose 2.3% in pre-market trading following the PCE report.
The rise in SOXX indicates positive sentiment towards semiconductor stocks, likely driven by the overall market's resilience despite mixed economic data.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Invesco Solar ETF (TAN) rose 1.5% in pre-market trading following the PCE report.
TAN's rise indicates investor optimism in the solar sector, despite mixed economic data.
CONFIDENCE 80
IMPORTANCE 55
RELEVANCE 65
POSITIVE IMPACT
iShares 20+ Year Treasury Bond ETF (TLT) saw a 0.5% increase in pre-market trading post-PCE report.
TLT's rise reflects a positive outlook for long-term Treasury bonds, likely driven by slightly lower Treasury yields.
CONFIDENCE 75
IMPORTANCE 40
RELEVANCE 50
POSITIVE IMPACT
Vanguard Real Estate ETF (VNQ) rose 0.9% in pre-market trading following the PCE report.
VNQ's rise indicates investor optimism in the real estate sector, despite mixed economic data.
CONFIDENCE 80
IMPORTANCE 55
RELEVANCE 65
POSITIVE IMPACT
Communication Services Select Sector SPDR Fund (XLC) saw a 1.2% increase in pre-market trading after the PCE report.
XLC's rise reflects positive sentiment in the communication services sector, despite mixed economic data.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Technology Select Sector SPDR Fund (XLK) saw a 1.6% increase in pre-market trading post-PCE report.
The increase in XLK reflects a positive outlook for technology stocks, buoyed by the market's overall resilience.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70