Fed Chair Powell Says Retail Sales Data, Q2 GDP Indicates Economy Growing At Solid Pace; Retail Sales, Q2 GDP Indicate An Economy Growing At A Solid Pace, Which Will Also Support Labor Market; We Are Not Seeing Rising Claims Or Layoffs; We Are Not Seeing Rising Layoffs From Our Business Contacts; We Are Not Waiting For That
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Chair Powell stated that recent retail sales data and Q2 GDP figures indicate the U.S. economy is growing at a solid pace. This growth is expected to support the labor market, with no signs of rising claims or layoffs.
September 18, 2024 | 6:52 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) may see positive sentiment as Fed Chair Powell indicates strong economic growth with solid retail sales and Q2 GDP, supporting the labor market.
The SPY ETF, which tracks the S&P 500, is likely to be positively impacted by the news of strong economic growth and stable labor market conditions. These factors generally boost investor confidence and can lead to upward movements in the stock market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50