Stocks Pulsate As June Inflation Undercuts Expectations: 10 Major Reactions
Portfolio Pulse from AJ Fabino
The U.S. Consumer Price Index (CPI) inflation rate dropped from 4% in May to 3% in June, below the average economist prediction of 3.1%. This has impacted investor outlook on potential Federal Reserve policy changes. The markets reacted strongly to the data, with S&P 500 (NYSE:SPY) futures rising 1% and Nasdaq 100 (NASDAQ:NDX) futures increasing by 1.2%. Several stocks including Schrodinger Inc (NASDAQ:SDGR), Opendoor Technologies Inc (NASDAQ:OPEN), Redfin Corp (NASDAQ:RDFN), PubMatic Inc (NASDAQ:PUBM), Pagaya Technologies Ltd (NASDAQ:PGY), Microvision Inc (NASDAQ:MVIS), Upstart Holdings Inc (NASDAQ:UPST), ORIC Pharmaceuticals Inc (NASDAQ:ORIC), Lilium NV (NASDAQ:LILM), and Coherent Corp (NYSE:COHR) saw gains in the premarket session.
July 12, 2023 | 2:26 pm
News sentiment analysis
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POSITIVE IMPACT
Nasdaq 100 futures increased by 1.2% following the announcement of the lower than expected inflation rate.
The lower than expected inflation rate is likely to impact the Federal Reserve's policy decisions, which in turn impacts the broader market. As such, the Nasdaq 100 futures rose in response to the news.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Opendoor Technologies Inc's stock gained 5.5% in the premarket session following the announcement of the lower than expected inflation rate.
The lower than expected inflation rate is likely to impact the Federal Reserve's policy decisions, which in turn impacts the broader market. As such, Opendoor Technologies Inc's stock rose in response to the news.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Redfin Corp's stock rose by 5.24% in the premarket session following the announcement of the lower than expected inflation rate.
The lower than expected inflation rate is likely to impact the Federal Reserve's policy decisions, which in turn impacts the broader market. As such, Redfin Corp's stock rose in response to the news.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Schrodinger Inc's stock was up 6.52% in the premarket session following the announcement of the lower than expected inflation rate.
The lower than expected inflation rate is likely to impact the Federal Reserve's policy decisions, which in turn impacts the broader market. As such, Schrodinger Inc's stock rose in response to the news.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
S&P 500 futures rose 1% following the announcement of the lower than expected inflation rate.
The lower than expected inflation rate is likely to impact the Federal Reserve's policy decisions, which in turn impacts the broader market. As such, the S&P 500 futures rose in response to the news.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80