Market Volatility Falls Following June PCE Data; S&P 500 Settles Higher
Portfolio Pulse from Lisa Levin
The S&P 500 and Dow Jones closed higher on Friday, with the S&P adding 1.01% and the Dow climbing 0.66% for the week. The PCE price index rose 0.2% in June, and the Fed raised its benchmark overnight interest rate by 25 basis points. Intel Corporation and The Procter & Gamble Company saw gains after reporting better-than-expected results and strong guidance. The Nasdaq 100 rose 1.85% amid gains in shares of Amazon.com, Inc. and Tesla Inc. The CBOE Volatility Index fell 7.5%.
July 31, 2023 | 9:54 am
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POSITIVE IMPACT
Amazon.com, Inc. shares saw gains, contributing to the rise of the Nasdaq 100.
Amazon's stock gains have contributed to the overall rise of the Nasdaq 100.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Intel Corporation shares gained 6.6% after reporting better-than-expected Q2 results and strong guidance.
Intel's better-than-expected results and strong guidance have positively impacted its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The Procter & Gamble Company gained 2.8% after beating analysts' expectations for quarterly sales.
Procter & Gamble's better-than-expected quarterly sales have positively impacted its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Tesla Inc shares saw gains, contributing to the rise of the Nasdaq 100.
Tesla's stock gains have contributed to the overall rise of the Nasdaq 100.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 80