Final US GDP Q1 Figures Lower than Expected Updated: 6/25/2014
Today the final US GDP Q1 figure was reported as being down 2.9% as opposed to the predicted 1% slide. The slide in the quarter has been consistently pushed to being a result of the cold weather. Equity markets had mixed reactions to the announcement with some markets being up, some flat and others down.
“While broad US Equity markets continue to touch or be around all-time highs, it’s interesting to see the results of the final US GDP Q1 figure being almost 2% below prior estimates,” said David Krein, Head of Research, NASDAQ OMX Global Indexes.
INDEX MOVES THIS WEEK
- NASDAQ BIOTECHNOLOGY INDEX (NBI) is down 0.05% since Friday’s close. Year-to-date performance for the index is up 13% after being up above 20% at the end of February.
- PHLX GOLD/SILVER SECTOR (XAU) was up 0.27% as of noon on Wednesday. The price of gold is currently $1,323 per ounce, up $7 this week.
- NASDAQ INTERNET (QNET) was up 1.06% as of noon on Wednesday. Some of the largest holdings of the index include Amazon, Google, Facebook and Priceline.
INDEX TO WATCH
- Track the global equity space by monitoring the NASDAQ Global Index (NQGI). The quarterly evaluation for the month of June became effective after the close of trading on June 20, 2014. The index is down 0.61% this week and up 4.56% year-to-date.