Markets Brace for Fed Meeting: US Stocks in Decline, Microsoft Gears Up for 2023's Worst Day
Portfolio Pulse from Shanthi Rexaline
US stock futures indicate a shaky start on Wednesday due to mixed tech earnings and anticipation of the Federal Reserve's rate decision. Positive consumer confidence data led to a mostly higher close on Tuesday, with the Dow Industrials extending its winning streak to 12 sessions. Analyst John Lynch expects the Fed to adopt a 'wait-and-see' approach on additional rate increases. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF fell. Snap shares plummeted about 20% after issuing lackluster guidance, while Microsoft fell about 3.70% and Alphabet rose 6.64% in reaction to their respective quarterly results.
July 26, 2023 | 10:48 am
News sentiment analysis
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NEGATIVE IMPACT
Microsoft shares fell about 3.70% in reaction to its quarterly results.
The company's quarterly results are likely to negatively impact its stock price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
The Invesco QQQ ETF fell 0.20% in premarket trading.
The ETF's price is likely to be negatively impacted by the overall shaky start of the US stock futures.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Snap shares plummeted about 20% in premarket trading after the company issued lackluster guidance.
The company's lackluster guidance is likely to negatively impact its stock price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust fell 0.13% in premarket trading.
The ETF's price is likely to be negatively impacted by the overall shaky start of the US stock futures.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Alphabet shares rose 6.64% in reaction to its quarterly results.
The company's quarterly results are likely to positively impact its stock price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100