S&P 500 Climbs On Cooler Inflation Data, Apple Reclaims $3-Trillion Market Cap
Portfolio Pulse from Natan Ponieman
The S&P 500 and other major market indexes ended the week positively, responding well to lower-than-expected inflation data. Apple reclaimed its $3-trillion market cap, while Nike shares fell after Q4 earnings missed estimates. Micron Technology's stock dropped despite better-than-expected Q3 results due to concerns over a Chinese ban on some of its products. The Biden administration's $42-billion investment plan for high-speed internet access boosted some internet provider stocks. Lordstown Motors filed for bankruptcy and received a delisting notice from Nasdaq.
June 30, 2023 | 8:02 pm
News sentiment analysis
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NEGATIVE IMPACT
Micron Technology's stock dropped despite better-than-expected Q3 results due to concerns over a Chinese ban on some of its products.
Despite strong Q3 results, concerns over a Chinese ban on some of Micron Technology's products could negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Nike shares fell after the company's Q4 earnings missed estimates by 1 cent per share.
Nike's Q4 earnings miss could negatively impact investor sentiment, potentially leading to a short-term drop in the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Apple reclaimed its $3-trillion market cap, closing at a $3.05-trillion market cap on Friday.
Apple's market cap crossing the $3-trillion mark is a significant milestone, indicating strong investor confidence in the company. This could potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Comcast Corp's stock could be positively impacted by the Biden administration's $42-billion investment plan for high-speed internet access.
The Biden administration's investment plan for high-speed internet access could potentially benefit Comcast Corp, possibly leading to a short-term increase in the stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Cisco Systems' stock could be positively impacted by the Biden administration's $42-billion investment plan for high-speed internet access.
The Biden administration's investment plan for high-speed internet access could potentially benefit Cisco Systems, possibly leading to a short-term increase in the stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
AT&T's stock could be positively impacted by the Biden administration's $42-billion investment plan for high-speed internet access.
The Biden administration's investment plan for high-speed internet access could potentially benefit AT&T, possibly leading to a short-term increase in the stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80