GDP Growth Revised Down for Q2 Friday, August 26, 1:48 PM ET
Second quarter GDP growth was revised downward today by the Commerce Department.
The economy grew at a 1.0% annual rate in the second quarter, compared to a prior estimated of 1.3%.
The downward revision met economist forecasts.
Consumer spending, however, was upwardly revised to an increase of 0.4% compared to an initial reading of 0.1% growth.
The anemic growth may heighten fears of a double-dip recession.
All eyes in the market are turned towards Fed Chairman Benjamin Bernanke’s speech at Jackson Hole today.
The SPDR S&P 500 (AMEX:
SPY) is trading down .5% following the data, and ahead of the speech.
The Consumer Staples Select Sector SPDR Fund (AMEX:
XLP), with top stocks Procter & Gamble (NYSE: PG) and Phillip Morris International (NYSE: PM) is trading down over .4% Friday.
The Consumer Discretionary Select Sector SPDR Fund (AMEX:
XLY) is trading down over .4%.
Top stocks in the fund include McDonald’s (NYSE:
MCD) and Amazon.com (NASDAQ: AMZN).
The iShares Down Jones U.S. Industrial Sector Index Fund (AMEX:
IYJ) is trading down .8% Friday, on the backs of top stocks General Electric (NYSE: GE) and United Technologies (NYSE: UTX).
For MarketNewsVideo.com, I’m Kristin Bianco.
Tuesday Sector Laggards: Computers, Insurance Brokers
Related symbols: RDWR, NEON, AHL, RE
Tuesday Sector Leaders: Non-Precious Metals & Non-Metallic Mining, Oil & Gas Exploration & Production Stocks
Related symbols: CLF, MHR, HK
Monday Sector Laggards: Airlines, Advertising Stocks
Related symbols: RJET, ZNH, ANGI, MXPT
Daily Dividend Report: MPC, HLT, CG, XOM, WFC, GILD, AMGN, SYK, PX, BDX
Related symbols: MPC, HLT, CG, XOM, WFC, GILD, AMGN, SYK, PX, BDX
Daily Dividend Report: HIG, IBM, COST, EXC, CCE, DHI, CMA, GPN, WCN, CR
Related symbols: HIG, IBM, COST, EXC, CCE, DHI, CMA, GPN, WCN, CR
Daily Dividend Report: LYB, DAL, NSC, MAC, CNP, PRE, WWD, DBD
Related symbols: LYB, DAL, NSC, MAC, CNP, PRE, WWD, DBD
Weekly Market Wrap: July 24, 2015
Related symbols: BAC, T, AAPL, FCX, VALE
Weekly Market Wrap: July 10, 2015
Related symbols: AAPL, BAC, NBG, INTC, S
Weekly Market Wrap: July 2, 2015
Related symbols: BAC, AMD, VALE, MU
Week Ahead Market Report: June 8, 2015
Related symbols: BAC, FTR, AAPL, INTC, MNKD
Week Ahead Market Report: May 18, 2015
Related symbols: BAC, AAPL, VALE, T
Week Ahead Market Report: May 4, 2015
Related symbols: BAC, AAPL, MSFT, ICLD, NOK
All videos » |
Stock market definitions »
GDP Growth Revised Down for Q2
| Market News Video | Copyright © 2008 - 2015, All Rights Reserved
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.