Gross domestic product strengthens in August
MONTHLY MARKET COMMENTARY |
The Bureau of Economic Analysis revised the Q2 gross domestic product (GDP) to 4.2 percent, up from an initial estimate of 4.1 percent in their most recent release, signaling continued strength.
Meanwhile, domestic equities finished higher during the month as earnings momentum pushed stocks higher with positive sentiment from positive GDP revisions. In addition, consumer discretionary and technology sectors led other sectors with growth names broadly outperforming value across market capitalizations. And, higher crude and natural gas prices were not enough to overcome soft agriculture prices which drug down the commodity index.