Wall Street Set To Rally On Mild Producer Inflation Data As Traders Boost Bets On Bigger Fed Rate Cut: 5 ETFs To Watch Tuesday
Portfolio Pulse from Piero Cingari
A lower-than-expected Producer Price Index (PPI) report has led to increased bullish sentiment in premarket trading, with traders boosting bets on a larger Federal Reserve interest rate cut next month. Key ETFs like SPY, QQQ, IWM, and TLT saw gains, while GLD experienced a slight dip.
August 13, 2024 | 1:30 pm
News sentiment analysis
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NEGATIVE IMPACT
SPDR Gold Trust (GLD) experienced a slight dip of 0.1% in premarket trading following the lower-than-expected PPI report, as traders increased bets on a larger Fed rate cut.
The lower-than-expected PPI report has led to increased bets on a larger Fed rate cut, causing a slight dip in GLD. This suggests that investors are moving away from gold as they anticipate lower interest rates.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
iShares Russell 2000 ETF (IWM) futures were up 0.8% in premarket trading following the lower-than-expected PPI report, indicating increased bullish sentiment and higher bets on a larger Fed rate cut.
The lower-than-expected PPI report has led to increased bullish sentiment, causing IWM futures to rise. This suggests that investors are optimistic about a larger Fed rate cut, which could benefit small-cap stocks.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Invesco QQQ Trust (QQQ) futures rallied 0.9% in premarket trading due to the lower-than-expected PPI report, reflecting increased optimism for a larger Fed rate cut.
The lower-than-expected PPI report has led to increased bullish sentiment, causing QQQ futures to rally. This indicates that investors are optimistic about a larger Fed rate cut, which could benefit tech stocks.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
SPDR S&P 500 ETF Trust (SPY) futures rose by 0.6% in premarket trading following the lower-than-expected PPI report, indicating bullish sentiment and increased bets on a larger Fed rate cut.
The lower-than-expected PPI report has led to increased bullish sentiment, causing SPY futures to rise. This suggests that investors are optimistic about a larger Fed rate cut, which could further boost the stock market.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
iShares 20+ Year Treasury Bond ETF (TLT) saw a 0.5% increase in premarket trading following the lower-than-expected PPI report, reflecting increased bets on a larger Fed rate cut.
The lower-than-expected PPI report has led to increased bullish sentiment, causing TLT to rise. This indicates that investors are optimistic about a larger Fed rate cut, which could benefit long-term Treasury bonds.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80