US Stocks Tick Higher, Dollar Falls To 1-Month Low Ahead Of Fed News: What's Driving Markets Today
Portfolio Pulse from Shanthi Rexaline
Stock futures are mixed ahead of the Federal Open Market Committee meeting, with the market pricing in a hawkish undertone at Chair Jerome Powell's post-meeting press conference. The resilience of the economy has been surprising, according to Chris Zaccarelli, Chief Investment Officer at Independent Advisor Alliance. In premarket trading, SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) gained, while Tesla (TSLA) and Advanced Micro Devices (AMD) shares also rose.
June 14, 2023 | 10:08 am
News sentiment analysis
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NEUTRAL IMPACT
Invesco QQQ ETF (QQQ) rose 0.21% at $364.01 in premarket trading ahead of the Federal Open Market Committee meeting.
The Federal Open Market Committee meeting will likely impact the overall market sentiment, but it is uncertain how it will specifically affect QQQ. The premarket gain suggests a positive outlook, but the mixed stock futures indicate caution.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
SPDR S&P 500 ETF Trust (SPY) gained 0.19% to $437.50 in premarket trading ahead of the Federal Open Market Committee meeting.
The Federal Open Market Committee meeting will likely impact the overall market sentiment, but it is uncertain how it will specifically affect SPY. The premarket gain suggests a positive outlook, but the mixed stock futures indicate caution.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Advanced Micro Devices, Inc. (AMD) gained more than 1.60% in premarket trading as traders react to the company's renewed AI thrust.
AMD's renewed focus on AI has generated positive sentiment among traders, leading to a 1.60% gain in premarket trading. This suggests that the stock is likely to perform well in the short term, although the overall market sentiment may still impact AMD.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Tesla, Inc. (TSLA) shares gained over 1.80% in premarket trading, as the stock looks set to extend its winning streak to 14 straight sessions.
Tesla's shares have been on a winning streak, and the 1.80% gain in premarket trading suggests that the positive momentum is likely to continue in the short term. The overall market sentiment may impact TSLA, but the stock's recent performance indicates strength.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80