US Stocks Climb, Dollar Drops As Falling Inflation Raises Optimism On The End of Fed Tightening: What's Driving Markets Today
Portfolio Pulse from Shanthi Rexaline
US stocks are poised for gains ahead of May's consumer price inflation data release, with small-cap stocks potentially catching up. Tech stocks led the market on Monday, with the Nasdaq Composite Index and the S&P 500 indices reaching 14-month highs. However, fund manager Louis Navellier warns that a global recession is still a possibility.
June 13, 2023 | 11:06 am
News sentiment analysis
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NEGATIVE IMPACT
Apple shares are down about 0.9% after hitting a fresh record on Monday.
Apple's stock price is down after reaching a new record, which could indicate a short-term correction or profit-taking by investors. This may lead to a temporary decline in the stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Oracle shares soared over 4.40% in premarket trading following stellar Q4 results driven by cloud demand amid the AI frenzy.
Oracle's strong Q4 results, driven by increased cloud demand, are likely to boost investor confidence and push the stock price higher in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
In premarket trading on Tuesday, the Invesco QQQ ETF rose 0.31% at $361.59.
The Invesco QQQ ETF's gain in premarket trading indicates a positive sentiment among investors, which could lead to a short-term increase in the ETF's price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
In premarket trading on Tuesday, the SPDR S&P 500 ETF Trust gained 0.10% to $434.25.
The SPDR S&P 500 ETF Trust's gain in premarket trading indicates a positive sentiment among investors, which could lead to a short-term increase in the ETF's price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
Tesla shares rose moderately as the stock enters the session with 12 straight days of gains.
Tesla's stock has been on a consistent upward trend, and this momentum is likely to continue in the short term, attracting more investors and pushing the stock price higher.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100