Market Volatility Declines Following Fed's Decision; Dow Gains For 13th Session
Portfolio Pulse from Lisa Levin
The S&P 500 closed slightly lower while the Dow Jones recorded gains for the 13th straight session. The Fed raised its benchmark overnight interest rate by 25 basis points. Microsoft Corporation shares fell 3.8% after issuing guidance below estimates. Snap Inc. shares fell over 14% after reporting Q3 results. The Nasdaq 100 fell 0.40% amid losses in shares of Microsoft and Amazon.com. The CBOE Volatility Index fell 5.8%.
July 27, 2023 | 9:55 am
News sentiment analysis
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NEGATIVE IMPACT
Amazon.com shares contributed to the 0.40% fall of the Nasdaq 100.
Amazon's stock price decline contributed to the overall drop in the Nasdaq 100, indicating a negative market sentiment towards the company.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Microsoft shares fell 3.8% after issuing guidance below estimates.
Microsoft's lower than expected guidance indicates potential future performance issues, which could negatively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Snap Inc. shares fell over 14% after reporting Q3 results.
Snap's Q3 results were likely below market expectations, leading to a significant drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100