Stocks Tick Higher As Energy Giants Lead The Way, With Oil Reaching Two-Month Highs: Tuesday's Market Movers
Portfolio Pulse from Shanthi Rexaline
US stock futures are set to open in green on Tuesday as traders anticipate benign June inflation data. The Nasdaq Composite, Dow Industrials, S&P 500 Index, and Russell 2000 all saw gains on Monday. Wharton professor Jeremy Siegel predicts a slowdown in the second half of the year but not a dramatic downturn. In premarket trading, SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) saw slight gains. Stocks of Apple (AAPL), Nvidia (NVDA), Advanced Micro Devices (AMD), Microsoft (MSFT), and Amazon (AMZN) are in focus due to various reasons.
July 11, 2023 | 10:56 am
News sentiment analysis
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POSITIVE IMPACT
Apple's (AAPL) stock rose modestly in premarket after KeyBanc Capital Markets raised the price target for the stock from $180 to $200.
The increase in Apple's price target by KeyBanc Capital Markets could lead to a short-term increase in its stock price.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Advanced Micro Devices' (AMD) stock climbed after positive analyst actions.
The positive analyst actions could lead to a short-term increase in AMD's stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Amazon's (AMZN) stock could be in the spotlight as the e-commerce giant commenced Prime Day sales.
The commencement of Prime Day sales could lead to a short-term increase in Amazon's stock price due to potential increase in revenues.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Microsoft's (MSFT) stock edged up after reports said the company is planning to lay off more employees.
The news of layoffs at Microsoft could lead to a short-term increase in its stock price due to potential cost savings.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Nvidia's (NVDA) stock climbed after positive analyst actions.
The positive analyst actions could lead to a short-term increase in Nvidia's stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Invesco QQQ ETF (QQQ) saw a slight gain in premarket trading.
The gain in QQQ in premarket trading indicates positive investor sentiment, which could lead to a short-term increase in its price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
SPDR S&P 500 ETF Trust (SPY) saw a slight gain in premarket trading.
The gain in SPY in premarket trading indicates positive investor sentiment, which could lead to a short-term increase in its price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80