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.
Friday Sector Laggards: Textiles, Water Utilities
Related symbols: DECK, HBI, SBS, PCYO
Friday Sector Leaders: Information Technology Services, Rental, Leasing, & Royalty Stocks
Related symbols: SONS, GIMO, PER, SDT
Thursday Sector Leaders: General Contractors & Builders, Education & Training Services
Related symbols: PHM, MTH, LRN, BPI
Friday's ETF Movers: GDXJ, ILF
Related symbols: EDV.CA, GBU.CA, PBR.A, BBD, ILF, GDXJ
XLF, QINC: Big ETF Outflows
Related symbols: XLF, QINC, BRK.B, WFC, O, ED
HEDJ, PSAU: Big ETF Inflows
Related symbols: HEDJ, PSAU, G, NEM
Daily Dividend Report: SPG, BRCM, HCP, FIS, XRX, DD
Related symbols: SPG, BRCM, HCP, FIS, XRX, DD
Daily Dividend Report: POT, AVB, RCI, DGX, PAG, XOM, V, MCD, HPQ, LMT, MCK
Related symbols: POT, AVB, RCI, DGX, PAG, XOM, V, MCD, HPQ, LMT, MCK
Daily Dividend Report: AAPL, WFC, IBM, EXC, BDX, JCI, NBL, GWW, PX
Related symbols: AAPL, WFC, IBM, EXC, BDX, JCI, NBL, GWW, PX
Weekly Market Wrap: January 9, 2015
Related symbols: BAC, SAN, AAPL, CL, MET, COG, DDR
Weekly Market Wrap: January 2, 2015
Related symbols: BAC, AAPL, GE, SIRI, DOC, TCFC, NYRT, PNC
Weekly Market Wrap: December 26, 2014
Related symbols: BAC, AAPL, RAD, GILD, GRPN
Week Ahead Market Report: January 26, 2015
Related symbols: BA, GE, BABA, AAPL, OCN, BAC, AOS, MMM
Week Ahead Market Report: January 12, 2015
Related symbols: NPSP, BAC, AAPL, MU, CSCO
Week Ahead Market Report: December 29, 2014
Related symbols: BAC, AAPL, RAD, SIRI, ACHI, GAME, EXPO
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.