The Dow Breaks 13-Day Winning Streak, Fed Raises Interest Rates To 2001 Levels And AI Is The Buzzword For Big Tech Earnings: The Week In The Markets
Portfolio Pulse from Natan Ponieman
The Dow Jones broke a 13-day winning streak, but ended the week up 0.65%. The Fed raised interest rates to 5.25%-5.5%, the highest level since 2001. Big Tech companies released earnings, with Microsoft (MSFT) shares falling due to slowed Azure growth, Alphabet (GOOG) shares rising after beating revenue estimates, Meta (META) shares increasing after beating earnings estimates, and Intel (INTC) shares climbing despite a revenue drop. Banc of California (BANC) announced a merger with PacWest Bancorp (PACW), causing its shares to soar. Bank of America (BAC) and JP Morgan Chase (JPM) shares slid after a proposal to raise capital requirements for big banks.
July 28, 2023 | 8:06 pm
News sentiment analysis
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NEGATIVE IMPACT
Bank of America shares slid after a proposal to raise capital requirements for big banks.
A proposal to raise capital requirements for big banks led to a slide in Bank of America's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
JP Morgan Chase shares slid after a proposal to raise capital requirements for big banks.
A proposal to raise capital requirements for big banks led to a slide in JP Morgan Chase's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Microsoft shares fell due to slowed Azure growth and disappointment over lack of quick gains from AI efforts.
Microsoft's slowed growth in its cloud arm, Azure, and lack of quick gains from its AI efforts disappointed investors, leading to a drop in its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Banc of California shares soared after announcing a merger with PacWest Bancorp.
Banc of California announced a merger with PacWest Bancorp, leading to a significant increase in its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Alphabet shares rose after beating revenue estimates and positive response to its advancements in the AI field.
Alphabet beat revenue estimates and investors responded positively to its advancements in the AI field, leading to a rise in its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Intel shares climbed despite a revenue drop, with the CEO expressing confidence in the company's position to capitalize on AI growth.
Despite a drop in revenue, Intel's shares climbed as the CEO expressed confidence in the company's position to capitalize on AI growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Meta shares increased after beating earnings estimates and positive response to its AI investments.
Meta beat earnings estimates and investors responded positively to its AI investments, leading to an increase in its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100