Shares of tech and software stocks are trading lower following comments from Fed Chair Powell suggesting further rate hikes may be needed to curb inflation. Additionally, AI stocks are pulling back following recent strength.
Portfolio Pulse from Benzinga Newsdesk
Software stocks are trading lower due to comments from Fed Chair Powell suggesting further rate hikes may be needed to curb inflation. AI stocks are also pulling back after recent gains.
June 21, 2023 | 3:31 pm
News sentiment analysis
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NEGATIVE IMPACT
AI stock is trading lower due to concerns about potential rate hikes and a pullback in AI stocks after recent gains.
AI stock is directly impacted by the news of potential rate hikes and the pullback in AI stocks. The rate hikes may increase borrowing costs, affecting the company's growth prospects. The pullback in AI stocks is a result of recent gains, indicating a potential market correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
BBAI stock is trading lower due to concerns about potential rate hikes and a pullback in AI stocks after recent gains.
BBAI stock is directly impacted by the news of potential rate hikes and the pullback in AI stocks. The rate hikes may increase borrowing costs, affecting the company's growth prospects. The pullback in AI stocks is a result of recent gains, indicating a potential market correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
DOCU stock is trading lower due to concerns about potential rate hikes affecting the software sector.
DOCU stock is directly impacted by the news of potential rate hikes. The rate hikes may increase borrowing costs, affecting the company's growth prospects and the overall software sector.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
FSLY stock is trading lower due to concerns about potential rate hikes affecting the software sector.
FSLY stock is directly impacted by the news of potential rate hikes. The rate hikes may increase borrowing costs, affecting the company's growth prospects and the overall software sector.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
OKTA stock is trading lower due to concerns about potential rate hikes affecting the software sector.
OKTA stock is directly impacted by the news of potential rate hikes. The rate hikes may increase borrowing costs, affecting the company's growth prospects and the overall software sector.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
SHOP stock is trading lower due to concerns about potential rate hikes affecting the software sector.
SHOP stock is directly impacted by the news of potential rate hikes. The rate hikes may increase borrowing costs, affecting the company's growth prospects and the overall software sector.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
SOUN stock is trading lower due to concerns about potential rate hikes affecting the software sector.
SOUN stock is directly impacted by the news of potential rate hikes. The rate hikes may increase borrowing costs, affecting the company's growth prospects and the overall software sector.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
TEAM stock is trading lower due to concerns about potential rate hikes affecting the software sector.
TEAM stock is directly impacted by the news of potential rate hikes. The rate hikes may increase borrowing costs, affecting the company's growth prospects and the overall software sector.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
TWLO stock is trading lower due to concerns about potential rate hikes affecting the software sector.
TWLO stock is directly impacted by the news of potential rate hikes. The rate hikes may increase borrowing costs, affecting the company's growth prospects and the overall software sector.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100