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Investors ‘holding their breath before US GDP figures’

US gross domestic product (GDP) figures will have a major affect on the investment industry, an expert has predicted.

US gross domestic product (GDP) figures will have a major affect on the investment industry, an expert has predicted.

Joshua Raymond, market strategist at City Index, claimed that the market has been performing cautiously ahead of the announcement later today.

He suggested that many hedge funds will be looking for positive news to confirm the general theme of recovery.

“The GDP figure therefore could be a good reminder to investors that the economic situation continues to improve,” he asserted.

Mr Raymond added that this good news could override yesterday’s poor performance of durable goods.

He stated: “We may see investors look to bank some early profits as a precaution as we head into the GDP data this afternoon.”

BlackRock recently published figures showing that utilities experienced the largest ETF fund inflow last week – $140.4 million (£86.30 million).

Oil and gas saw inflows of $100.7 million, while total DJ STOXX 600 sector ETFs experienced net inflows of $173.7 million.

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