Market Volatility Falls Further After Fed Keeps Rates Unchanged
Portfolio Pulse from Lisa Levin
The S&P 500 closed slightly higher after the Federal Reserve kept interest rates unchanged, with a 63% chance of a rate hike in July. UnitedHealth Group shares dropped over 6% due to increased non-urgent surgeries, while AMD shares gained over 2% on reports of Amazon's cloud unit considering their AI chips. The Nasdaq 100 rose 0.70% with gains in NVIDIA and Microsoft shares.
June 15, 2023 | 10:00 am
News sentiment analysis
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NEGATIVE IMPACT
UnitedHealth Group shares dropped over 6% after the company's CEO highlighted an increase in elevated volumes of non-urgent surgeries, raising concerns about higher costs for insurers.
The increase in non-urgent surgeries directly impacts UnitedHealth Group's costs, which could lead to lower profits and negatively affect the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Advanced Micro Devices shares gained more than 2% after a report suggested Amazon's cloud unit is considering using the company's AI chips.
The potential partnership with Amazon's cloud unit could lead to increased demand for AMD's AI chips, boosting the company's revenues and positively impacting the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Microsoft shares gained as the Nasdaq 100 rose 0.70%, closing at 15,005.69.
Microsoft's stock price is positively impacted by the overall market performance, particularly the Nasdaq 100, which rose 0.70%.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
NVIDIA shares gained as the Nasdaq 100 rose 0.70%, closing at 15,005.69.
NVIDIA's stock price is positively impacted by the overall market performance, particularly the Nasdaq 100, which rose 0.70%.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50