US Stocks Take A Breather, Nasdaq Notches Fifth Straight Month Of Gains: Investors Gear Up For Pivotal Week
Portfolio Pulse from Shanthi Rexaline
US stocks are expected to start the week sluggishly, with key earnings reports and labor market readings potentially influencing the market. Apple's earnings report on Thursday is seen as a crucial indicator of global consumer health. Last week, the major averages advanced due to earnings optimism and benign inflation readings. LPL Financial's Chief Technical Strategist Adam Turnquist believes the current bull market rally is sustainable due to broader participation. In premarket trading on Monday, the SPDR S&P 500 ETF Trust rose 0.06% and the Invesco QQQ ETF edged down 0.01%. Several companies, including Palantir Technologies, Advanced Micro Devices, and Microsoft, are in focus due to their upcoming earnings reports.
July 31, 2023 | 11:01 am
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POSITIVE IMPACT
In premarket trading on Monday, the SPDR S&P 500 ETF Trust rose 0.06%.
The SPDR S&P 500 ETF Trust rose in premarket trading on Monday, which could indicate a positive short-term impact on its price.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 60
NEUTRAL IMPACT
Apple's earnings report due on Thursday is seen as a crucial indicator of global consumer health.
Apple's earnings report is often seen as an indicator of the health of global consumers. Therefore, its performance could significantly impact its stock price and the overall market.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 80
NEGATIVE IMPACT
Microsoft's cautious forward commentary led to punishment by traders last week.
Microsoft's cautious forward commentary last week was not well received by traders, which could potentially impact its stock price negatively in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 70
NEGATIVE IMPACT
In premarket trading on Monday, the Invesco QQQ ETF edged down 0.01%.
The Invesco QQQ ETF edged down in premarket trading on Monday, which could indicate a negative short-term impact on its price.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 60