Tech Stocks Lead Market Upsurge As Inflation And Fed Tightening Fears Diminish: Thursday's Market Movers
Portfolio Pulse from Shanthi Rexaline
US stocks are set to open higher due to relief from inflation and optimism about earnings. The June inflation report showed consumer prices growing at the slowest month-over-month rate since March 2021. Analysts have differing views on the market rally. SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ ETF (NASDAQ:QQQ) rose in premarket trading. Viasat, Inc. (NASDAQ:VSAT) shares fell over 22% due to an anomaly during the deployment of its ViaSat-3 Americas satellite. Walt Disney, Inc. (NYSE:DIS) and Meta Platforms, Inc. (NASDAQ:META) saw a rise in their shares.
July 13, 2023 | 10:53 am
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Viasat, Inc. shares fell over 22% due to an anomaly during the deployment of its ViaSat-3 Americas satellite.
The fall in VSAT shares is due to an anomaly during the deployment of its ViaSat-3 Americas satellite.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Walt Disney, Inc. shares rose over 1% after the company announced a two-year extension to the tenure of its CEO Bob Iger.
The rise in DIS shares is due to the company announcing a two-year extension to the tenure of its CEO Bob Iger.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Meta Platforms, Inc. shares rose about 2% after TD Cowen upgraded the stock from Market Perform to Outperform.
The rise in META shares is due to TD Cowen upgrading the stock from Market Perform to Outperform.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Invesco QQQ ETF gained 0.68% in premarket trading due to inflation relief and earnings optimism.
The rise in QQQ is due to the positive sentiment in the market following the release of the June inflation report and optimism about earnings.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
SPDR S&P 500 ETF Trust rose 0.32% in premarket trading due to inflation relief and earnings optimism.
The rise in SPY is due to the positive sentiment in the market following the release of the June inflation report and optimism about earnings.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80