S&P Makes Weekly Advance As Inflation Reaches Lowest Level Since March 2021; Amazon, Microsoft, Alphabet And Major Banks Lead Market Optimism
Portfolio Pulse from Natan Ponieman
The S&P 500 and other major indexes closed the week higher due to positive inflation data and strong earnings reports from major banks. Alphabet, Amazon, and Microsoft led the market optimism. Alphabet's shares climbed after the launch of its AI search engine assistant Bard in Europe and Brazil. Amazon's stock surged after its 'Prime Day' event registered a 13% jump from last year. Microsoft's shares rose after a federal judge ruled in favor of the company in a lawsuit filed by the FTC. Wells Fargo and JP Morgan Chase shares rose after beating consensus estimates in their earnings reports. Citigroup's shares dropped after announcing a 36% drop in net income for the second quarter.
July 14, 2023 | 7:50 pm
News sentiment analysis
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POSITIVE IMPACT
Amazon's stock surged after its 'Prime Day' event registered a 13% jump from last year.
The success of Amazon's 'Prime Day' event, which registered a 13% jump from last year, is a positive development for the company and could drive its stock price up.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Alphabet's shares climbed after the launch of its AI search engine assistant Bard in Europe and Brazil.
The launch of Alphabet's AI search engine assistant Bard in Europe and Brazil is a positive development for the company and could drive its stock price up.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
JP Morgan Chase's shares rose after beating consensus estimates in its earnings report.
JP Morgan Chase's strong earnings report, which beat consensus estimates, is a positive development for the company and could drive its stock price up.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Microsoft's shares rose after a federal judge ruled in favor of the company in a lawsuit filed by the FTC.
The favorable ruling for Microsoft in a lawsuit filed by the FTC is a positive development for the company and could drive its stock price up.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Wells Fargo's shares rose after beating consensus estimates in its earnings report.
Wells Fargo's strong earnings report, which beat consensus estimates, is a positive development for the company and could drive its stock price up.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Citigroup's shares dropped after announcing a 36% drop in net income for the second quarter.
Citigroup's announcement of a 36% drop in net income for the second quarter is a negative development for the company and could drive its stock price down.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80