This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Derivative Plays For GDP Disappointment:

NEW YORK ( TheStreet) -- Investors on sought protection in gold and currency hedges Wednesday after the government released GDP estimates that signaled the U.S. recovery may be faltering.

$GLD $GDX just amazing how manipulated gold is. buy as much as you can. Dollar crashing today. GDP #'s very weak. market at ATH.

Mr_Derivatives (@Mr_Derivatives) Apr. 30 at 09:25 AM
Real gross domestic product grew 0.1% in the first quarter of 2014 from the prior three months, according to advanced estimates released Wednesday by the Bureau of Economic Analysis. That number fell far short of the 1.1% forecast by many economists. And it looked particularly anemic in the face of the 2.6% growth seen in the last three months of 2013.

The StockTwits advanced search bar, currently in beta testing, showed investors discussing GDP also talked about adding to gold positions and buying pounds.

@jamesgrant Gold is safe. GDP horrible $JNUG

? JuztaCommon (@JuztaCommon) Apr. 30 at 10:41 AM
The British pound hovered near multi-year highs against the dollar after the U.S. advance GDP release. Gold, however, edged lower. SPDR Gold Shares  (GLD) an ETF that tracks the price of the yellow metal, fell 0.26% by 11a.m.

Surprisingly to some investors, the S&P 500 and the Dow were near flat after the report.

$SPY if bulls come out of this with a win today I really will be shocked. Hard not to be emotional about a GDP print like that.

? J. Scales (@Scaletrader) Apr. 30 at 10:21 AM
StockTwits' users attributed the lack of negative stock response to expectations that the Federal Reserve would change its policy of reducing monthly bond purchases that stimulate the economy. Many expected the FOMC announcement at 2p.m. to have dovish language, or even more outright suggestions that stimulus reductions should be halted until U.S. economic growth is on sounder footing.

$ES_F $SPY $SLV $GLD Only question now is how dovish yellen will be.They get GDP data in advance, so odds of hawkish statement today near 0

? M Rush (@panamaorange) Apr. 30 at 10:13 AM

@M5amhan Today's candle or the first 45m candle? Lots if action ahead. Yellen may hold taper this month after crappy GDP print. Who knows?

? Brian Anderson (@briander81) Apr. 30 at 10:07 AM

At the time of publication the author held no positions in any of the stocks mentioned.

This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
GLD $112.32 0.00%
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs