Strong GDP Reading Bolsters the Markets
|By Jordan Chussler
Following last week’s market-wide sell-off, stocks were back in the green this week following Thursday’s better-than-expected gross domestic product report from the U.S. Bureau of Economic Analysis.
GDP for Q1 came in at 2%, exceeding analysts’ expectations of 1.3% and marking the ninth time in the past 11 quarters the U.S. economy has seen positive expansion.
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With the end of Q2, the major indices have posted strong year-to-date gains in the first half, with:
- The Dow Jones Industrial Average up 2.84%.
- The small-cap Russel 2000 up 7.42%.
- The S&P 500 up 14.83%.
- And the tech-heavy Nasdaq leading the way with a 30.57% gain.
To better understand how to take advantage of ongoing strength in the economy and the markets, here are this week’s top stories from our team of editors and analysts …
In 2010, total ETF investment was around $1 trillion. Within a decade, that number rose to nearly $4 trillion. Director of Research and Ratings Gavin Magor explains why he highly recommends investors add ETF exposure to their portfolios.
In a year that’s been proven unpredictable for the markets, the one constant has been how the Weiss team deploys safety-oriented strategies. This year, you can meet them in person to learn more about their methodology and tailored picks.
Business Insider recently reported the government has been advertising 360 different openings in all 50 states for IRS agents. Income Analyst Nilus Mattive explains why it’s smart to minimize your tax bill using whatever legal means are available.
On Monday, President Biden announced a $42.5 billion plan to expand Americans’ access to broadband with the aim of providing access to reliable high-speed internet to every American by 2030. According to Senior Analyst Sean Brodrick, this is a big opportunity for investors.
Last week, executives at Amazon.com (AMZN) announced the demolition of nine Virginia office towers. That space will be used to build state-of-the-art data centers to facilitate Amazon’s artificial intelligence plans. That’s just one of the reasons Pulitzer Prize winner Jon Markman believes the tech giant is a “Buy.”
Until next time,
Weiss Ratings Daily