Top ETF Stories of August
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 03 2024
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Source: NASDAQ.COM
U.S. Stock Market Performance: U.S. stocks saw gains in August, driven by optimism around potential Federal Reserve rate cuts following a favorable inflation report, with the Dow Jones up 4.6% for the month and the S&P 500 gaining 5.7%, while the tech sector remained volatile.
Economic Indicators and Consumer Sentiment: The U.S. economy grew at a 3% annual pace in Q2, supported by strong consumer spending; however, mixed signals from retail earnings suggest uncertainty about consumer resilience, as major retailers reported cautious outlooks despite some positive sales data.
Analyst Views on XLY
Wall Street analysts forecast XLY stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for XLY is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 122.620
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Current: 122.620
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
