US Stocks Poised For Rebound On Tech Support — But Analyst Says 'Young Bull Probably Needs A Breather'
Portfolio Pulse from Shanthi Rexaline
US stocks are expected to rebound, led by tech stocks, after a pullback in the previous two sessions. Nasdaq 100 futures outperformed, indicating a recovery in the tech sector. Analysts from LPL suggest the young bull market may need a breather. In premarket trading, SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.20% and Invesco QQQ ETF (NASDAQ:QQQ) gained 0.48%.
June 27, 2023 | 11:12 am
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Invesco QQQ ETF (NASDAQ:QQQ) gained 0.48% in premarket trading, suggesting a recovery in the tech sector.
The gain in QQQ in premarket trading suggests a recovery in the tech sector, as it tracks the performance of the Nasdaq 100 Index. Beaten-down tech stocks are expected to lead the recovery, as indicated by the outperformance of Nasdaq 100 futures.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.20% in premarket trading, indicating a potential rebound in US stocks.
The rise in SPY in premarket trading indicates a potential rebound in US stocks, as it tracks the performance of the S&P 500 Index. The market sentiment appears to be improving after the pullback in the previous two sessions.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80