Stocks Fall Ending S&P 500's Winning Streak, Dollar Gains On Safe-Haven Flows: What's Driving Markets Friday
Portfolio Pulse from Shanthi Rexaline
US stock futures indicate a lower open on Friday due to global growth concerns and declining energy prices. Stocks closed mostly higher on Thursday, with the Nasdaq Composite and S&P 500 indices in positive territory. Analyst Ryan Detrick predicts a bullish second half of the year based on historical performance.
June 23, 2023 | 10:45 am
News sentiment analysis
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POSITIVE IMPACT
Smith & Wesson Brands, Inc. (NASDAQ:SWBI) shares rallied by over 8% in premarket trading following the release of the company's quarterly results.
The positive quarterly results released by Smith & Wesson Brands, Inc. have led to an increase in the company's share price in premarket trading. This is likely to have a short-term positive impact on the stock.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 90
NEGATIVE IMPACT
Invesco QQQ ETF (NASDAQ:QQQ) fell 0.63% to $363.87 in premarket trading on Friday due to global growth concerns and declining energy prices.
The decline in QQQ is due to the negative cues from global markets and declining energy prices, which are causing concerns about global growth. This is likely to have a short-term negative impact on the ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Virgin Galactic Holdings, Inc. (NYSE:SPCE) pulled back by more than 17% following an announcement concerning a common stock offering.
The announcement of a common stock offering by Virgin Galactic Holdings, Inc. has led to a significant decline in the company's share price. This is likely to have a short-term negative impact on the stock.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 90
NEGATIVE IMPACT
SPDR S&P 500 ETF Trust (NYSE:SPY) slipped 0.48% to $434.42 in premarket trading on Friday due to global growth concerns and declining energy prices.
The decline in SPY is due to the negative cues from global markets and declining energy prices, which are causing concerns about global growth. This is likely to have a short-term negative impact on the ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80