Market Volatility Rises Following GDP Data; S&P 500 Settles Higher
Portfolio Pulse from Lisa Levin
The S&P 500 settled higher on Thursday, driven by a rally in bank stocks following positive Fed stress test results. The U.S. economy expanded by an annualized rate of 2% in Q1, exceeding market expectations. Traders anticipate a 87% chance of a 25 basis point rate hike by the Federal Reserve in July. NIKE reported lower than expected Q4 earnings, while NVIDIA and Amazon shares fell, contributing to a 0.16% drop in the Nasdaq 100.
June 30, 2023 | 11:05 am
News sentiment analysis
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NEGATIVE IMPACT
Shares of Amazon fell, contributing to a 0.16% drop in the Nasdaq 100.
The fall in Amazon's share price could negatively impact its stock in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
NIKE reported lower than expected earnings for Q4, despite sales topping estimates.
NIKE's lower than expected earnings could negatively impact its stock price in the short term, despite sales beating estimates.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Shares of NVIDIA fell, contributing to a 0.16% drop in the Nasdaq 100.
The fall in NVIDIA's share price could negatively impact its stock in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70