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Daily Market Analysis By FXOpen
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[QUOTE="FXOpen Trader, post: 346300, member: 104606"] [B][SIZE=5]S&P 500 Rebounds after Negative GDP News[/SIZE][/B] [img]https://i.imgur.com/0aCEevV.jpeg[/img] Data released yesterday showed US GDP growth slowed to 1.6% in the first quarter of the year. According to ForexFactory: forecast = 2.2%, past value = 2.4%. Reaction to the news sent the S&P 500 mini stock index (US SPX 500 mini on FXOpen) sharply lower as market participants may fear a period of stagflation — a period when economic growth slows and inflation remains stubbornly high. Speaking at the Economic Club of New York on Tuesday, JPMorgan Chase CEO Jamie Dimon warned investors: “Stagflation has the negative effect of lack of growth and inflation. It hurts profits, consumers and jobs. And yes, I think there is a chance it could happen again,” he said. However, this morning the 4-hour chart of the US SPX 500 mini shows that the stock market is recovering thanks to gains in Google and Microsoft, which reported strongly after the close of the main trading session. [img]https://i.imgur.com/mGJofUY.jpeg[/img] [B][URL="https://fxopen.com/blog/en/oa-s-p-500-rebounds-after-negative-gdp-news/?utm_source=trendriforum&utm_medium=analysis&utm_campaign=resolve"]TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG[/URL][/B] [I][B]Disclaimer:[/B] This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. [/I] [/QUOTE]
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