Stocks Rally, Dollar Hits 15-Month Lows On Falling Inflation: What's Driving Markets Wednesday?
Portfolio Pulse from Shanthi Rexaline
Positive expectations for June inflation data have boosted market sentiment, reflected in higher stock futures for Wednesday’s opening. Major stock indexes ended higher on Tuesday, driven by expectations of a slowdown in inflationary pressures and the potential for a more dovish Fed approach. In premarket trading on Wednesday, the SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.17% to $443.22 and the Invesco QQQ ETF (NASDAQ:QQQ) gained 0.22% to $368.97. Netflix, Inc. (NASDAQ:NFLX) rose modestly in premarket trading after UBS raised the price target for the stock from $390 to $525. Activision Blizzard, Inc. (NASDAQ:ATVI) was little changed after Raymond James downgraded the stock from Outperform to Market Perform. AngioDynamics, Inc. (NASDAQ:ANGO) is due to release its quarterly results before the market opens.
July 12, 2023 | 11:17 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Netflix, Inc. rose modestly in premarket trading after UBS raised the price target for the stock from $390 to $525.
The rise in NFLX is likely due to UBS raising the price target for the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
The Invesco QQQ ETF gained 0.22% in premarket trading on Wednesday.
The rise in QQQ is likely due to positive expectations for June inflation data, which have boosted market sentiment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust rose 0.17% in premarket trading on Wednesday.
The rise in SPY is likely due to positive expectations for June inflation data, which have boosted market sentiment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
AngioDynamics, Inc. is due to release its quarterly results before the market opens.
The upcoming release of quarterly results for ANGO could potentially impact the stock's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
Activision Blizzard, Inc. was little changed after Raymond James downgraded the stock from Outperform to Market Perform.
The lack of significant change in ATVI is likely due to Raymond James downgrading the stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 90