Mixed Jobs Data; Fed Governors Want More Interest Rate Hikes; US, China Spat Rattles Semiconductor Sector: The Week In The Markets
Portfolio Pulse from Natan Ponieman
The June jobs report showed mixed data, with unemployment dropping to 3.6% but job additions falling short of expectations. Traders are expecting a Fed interest rate hike in July, but weaker job market numbers decrease the likelihood of a consecutive hike in September. The ongoing US-China spat is affecting the semiconductor sector, with new restrictions and bans affecting companies like Amazon and Microsoft. The FDA approved a new Alzheimer's drug by Eisai Co and Biogen. UPS is facing potential labor issues, and Tesla reported strong Q2 deliveries. Earnings reports from several major companies are expected next week.
July 07, 2023 | 7:52 pm
News sentiment analysis
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POSITIVE IMPACT
Biogen's new Alzheimer's drug, lecanemab, has been approved by the FDA.
The FDA approval could lead to increased sales for Biogen, positively impacting its revenue and stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Tesla reported strong Q2 deliveries, with more than half of the vehicles made in its Giga Shanghai factory in China.
Strong Q2 deliveries could boost Tesla's revenue and stock price, but ongoing US-China tensions could pose a risk.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Amazon could be affected by the Biden administration's plan to ban U.S.-based cloud services to Chinese companies.
The new restrictions could limit Amazon's business opportunities in China, potentially impacting its revenue and stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Microsoft could be affected by the Biden administration's plan to ban U.S.-based cloud services to Chinese companies.
The new restrictions could limit Microsoft's business opportunities in China, potentially impacting its revenue and stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
UPS is facing potential labor issues as its contract with the Teamsters Union ends this month without a new agreement.
Labor issues could disrupt UPS's operations, potentially impacting its revenue and stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80