Major indexes are lower after a drop in September consumer confidence readings.
Portfolio Pulse from Benzinga Newsdesk
Major indexes are experiencing a decline following a drop in September consumer confidence readings.
September 24, 2024 | 2:08 pm
News sentiment analysis
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NEGATIVE IMPACT
The Dow Jones Industrial Average ETF (DIA) is likely to be negatively impacted by the drop in consumer confidence, as it reflects broader market sentiment.
DIA tracks the Dow Jones Industrial Average, which is sensitive to changes in consumer confidence as it affects investor sentiment and economic outlook.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The iShares Russell 2000 ETF (IWM) may see a decline due to lower consumer confidence, affecting small-cap stocks.
IWM represents small-cap stocks, which can be more volatile and sensitive to consumer confidence changes, impacting economic growth expectations.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
The Invesco QQQ Trust (QQQ) might experience a downturn as tech-heavy indexes react to consumer confidence data.
QQQ tracks the Nasdaq-100, which includes tech stocks that can be sensitive to consumer sentiment and economic indicators.
CONFIDENCE 88
IMPORTANCE 65
RELEVANCE 75
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) is likely to be negatively affected by the drop in consumer confidence, reflecting broader market trends.
SPY tracks the S&P 500, which is a broad market index sensitive to consumer confidence as it influences economic outlook and investor sentiment.
CONFIDENCE 92
IMPORTANCE 75
RELEVANCE 85