Stocks Continue To Climb, Dismissing Rate Hike Fears, While Dollar Tumbles On Hawkish ECB: What's Driving Markets Today?
Portfolio Pulse from Shanthi Rexaline
Nasdaq futures slide as traders react to the Fed's decision to hold interest rates steady, with some analysts comparing the current scenario to early 2007. Economic data on consumer spending, job market, and manufacturing activity, as well as a rate decision from the European Central Bank, will likely drive action on Wall Street today. Tech stocks, including Tesla, Nvidia, and AMD, are under selling pressure in premarket trading.
June 15, 2023 | 10:41 am
News sentiment analysis
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NEGATIVE IMPACT
Advanced Micro Devices, Inc. is down about 1.40% in premarket trading as tech stocks face selling pressure.
The selling pressure on tech stocks, including AMD, is likely to have a negative short-term impact on its stock price, especially given the current market sentiment after the Fed's decision.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75
NEGATIVE IMPACT
Nvidia Corp. is down about 1.50% in premarket trading as tech stocks face selling pressure.
The selling pressure on tech stocks, including Nvidia, is likely to have a negative short-term impact on its stock price, especially given the current market sentiment after the Fed's decision.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75
NEGATIVE IMPACT
Palantir Technologies, Inc. is down 2.70% in premarket trading as tech stocks face selling pressure.
The selling pressure on tech stocks, including Palantir, is likely to have a negative short-term impact on its stock price, especially given the current market sentiment after the Fed's decision.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75
NEGATIVE IMPACT
Invesco QQQ ETF pulled back by 0.66% to $363.48 in premarket trading, according to Benzinga Pro data.
The negative sentiment in the market after the Fed's decision and the selling pressure on tech stocks are likely to have a negative short-term impact on the Invesco QQQ ETF.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75
NEGATIVE IMPACT
SPDR S&P 500 ETF Trust fell 0.30% to $435.86 in premarket trading, according to Benzinga Pro data.
The negative sentiment in the market after the Fed's decision is likely to have a negative short-term impact on the SPDR S&P 500 ETF Trust.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75
NEGATIVE IMPACT
Tesla, Inc. fell over 3% in premarket trading, extending the losses from Wednesday when the stock broke the 13-session losing streak.
The selling pressure on tech stocks, including Tesla, is likely to have a negative short-term impact on its stock price, especially given the current market sentiment after the Fed's decision.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75
NEUTRAL IMPACT
Adobe Systems, Inc. is scheduled to report its quarterly results after the market closes today.
Adobe's stock price may be impacted by its earnings report, but the overall market sentiment and other factors will also play a role in determining its short-term price direction.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Jabil Inc. is scheduled to release its quarterly results before the market opens today.
Jabil's stock price may be impacted by its earnings report, but the overall market sentiment and other factors will also play a role in determining its short-term price direction.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Kroger Co. is scheduled to release its quarterly results before the market opens today.
Kroger's stock price may be impacted by its earnings report, but the overall market sentiment and other factors will also play a role in determining its short-term price direction.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Lennar Corp. rallied over 2.50% following the release of its quarterly results.
Lennar's positive quarterly results are likely to have a positive short-term impact on its stock price, but the overall market sentiment and other factors will also play a role in determining its price direction.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75