Nasdaq Soars, Meta Rallies, Dow Flirts With Record Streak and Oil Jumps To $80: What's Driving Markets Thursday?
Portfolio Pulse from Shanthi Rexaline
US stocks are expected to open strong on Thursday, boosted by strong earnings from Meta Platforms and a relief rally from the Federal Reserve. However, an analyst from Morgan Stanley advises caution and recommends rebalancing towards 'value-style' and 'growth at a reasonable price' stocks. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF rose. Meta Platforms shares surged over 8.50% following its quarterly results release.
July 27, 2023 | 11:48 am
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Meta Platforms shares surged over 8.50% in premarket trading following its quarterly results release.
The surge in Meta Platforms' shares is directly linked to the company's strong quarterly results, which is likely to boost investor confidence and drive up the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
In premarket trading, the Invesco QQQ ETF jumped 1.28% to $382.45.
The jump in the Invesco QQQ ETF is likely due to the overall positive sentiment in the market, driven by strong earnings from Meta Platforms and a relief rally from the Federal Reserve.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
In premarket trading, the SPDR S&P 500 ETF Trust rose 0.68% to $458.60.
The rise in the SPDR S&P 500 ETF Trust is likely due to the overall positive sentiment in the market, driven by strong earnings from Meta Platforms and a relief rally from the Federal Reserve.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80