NEW YORK ( TheStreet) -- Changing index components, Chinese data and geopolitical news from Syria are all under the microscope this Tuesday. Breaking it down is TheStreet's Brittany Umar and Brian Jacobsen, chief portfolio strategist of Wells Fargo Funds Management.
With better-than-expected news out of China last night, it would appear as though a hard landing is off the table, Jacobsen said, who now expects 7% to 7.5% GDP growth.
Goldman Sachs (GS - Get Report), Visa (V - Get Report) and Nike (NKE - Get Report) will replace Hewlett-Packard (HPQ - Get Report), Bank of America (BAC - Get Report) and Alcoa (AA - Get Report) in the Dow Jones Industrial Average.
Jacobsen said this won't have a very big effect, since most portfolio managers do not track their performance to the Dow index. However, it will obviously be good for the stocks being added and bad for those being removed.Finally, Syria continues to remain in the headlines, but Jacobsen suggested that most of the news is already priced into the stock market and that it would be surprising if there wasn't military action. He concluded that a peaceful resolution will more than likely provide a relief rally. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell