Tech Stocks Advance On Epic AI-Rally: S&P and Dow Dip as Debt Deal Vote and Fed Rate Fears Trigger Unsettling Turbulence
Portfolio Pulse from Shanthi Rexaline
Nasdaq futures soar on high hopes for a budget deal, with analysts predicting more gains for the rest of the year. Key factors to watch include the fate of the budget deal and the non-farm payroll report. Nvidia Corp.'s strong Q1 earnings report and optimism about the budget deal provided support last week.
May 30, 2023 | 10:56 am
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POSITIVE IMPACT
Nvidia Corp.'s strong Q1 earnings report and optimism about the budget deal provided support last week.
Nvidia's strong Q1 earnings report contributed to the positive momentum in the market last week. The budget deal optimism also played a role in supporting the stock price. As a result, the stock price is likely to go up in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
In premarket trading on Tuesday, the Invesco QQQ ETF jumped 1.14% at $352.37.
The Invesco QQQ ETF gained in premarket trading on Tuesday, indicating a positive short-term impact on the stock price due to the optimism surrounding the budget deal and the non-farm payroll report.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
In premarket trading on Tuesday, the SPDR S&P 500 ETF Trust gained 0.58% to $422.44.
The SPDR S&P 500 ETF Trust gained in premarket trading on Tuesday, indicating a positive short-term impact on the stock price due to the optimism surrounding the budget deal and the non-farm payroll report.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80