Market Volatility Drops Following Powell's Comments; S&P 500 Down For Third Straight Session
Portfolio Pulse from Lisa Levin
The S&P 500 settled lower on Wednesday following comments from Federal Reserve Chair Jerome Powell, signaling potential additional rate hikes. All three major stock indexes recorded losses for the third consecutive session. FedEx reported better-than-expected earnings, while sales missed estimates. The Nasdaq 100 fell 1.35% amid losses in shares of Microsoft and Amazon.
June 22, 2023 | 9:59 am
News sentiment analysis
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NEGATIVE IMPACT
Amazon shares fell as the Nasdaq 100 dropped 1.35% on Wednesday.
Amazon's stock price is likely to be negatively impacted in the short term due to the overall market decline and the Nasdaq 100's 1.35% drop.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Microsoft shares fell as the Nasdaq 100 dropped 1.35% on Wednesday.
Microsoft's stock price is likely to be negatively impacted in the short term due to the overall market decline and the Nasdaq 100's 1.35% drop.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
FedEx reported better-than-expected earnings for Q4, but sales missed estimates. CFO Michael Lenz will retire effective July 31.
FedEx's mixed earnings report may have a neutral short-term impact on its stock price. While the better-than-expected earnings are positive, the sales miss and CFO retirement may offset the gains.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100