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S&P 500 and Nasdaq ETFs Hit Record Highs Despite Recession Signals
S&P 500 and Nasdaq ETFs Hit Record Highs Despite Recession Signals
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BTCCSquare news:
The S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ) reached new intraday peaks Thursday, shrugging off a warning from The Conference Board's Leading Economic Index (LEI). The LEI fell 0.5% in August—its steepest drop since April—while projecting just 1.6% GDP growth for 2025.
Markets opened higher as jobless claims unexpectedly dropped to 231,000, correcting prior fraud-driven spikes in Texas. Continuing claims also declined to 1.920 million, beating estimates. The resilience highlights investor confidence following the Fed's 25bps rate cut, though macroeconomic headwinds loom.
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