Stocks Dip, Bond Yields Rise And Dollar Gains As Investors Turn Cautious: What's Driving Markets Tuesday
Portfolio Pulse from Shanthi Rexaline
US stocks are expected to reverse course on Tuesday as traders prepare for a barrage of earnings reports and the JOLTS report. Energy stocks helped offset weakness in the consumer staple and healthcare spaces on Monday. Analysts at LPL Financial are positive about the near-term market outlook, with the S&P 500 within 4% of a new all-time high. In premarket trading, the SPDR S&P 500 ETF Trust (NYSE:SPY) fell 0.22% and the Invesco QQQ ETF (NASDAQ:QQQ) slipped 0.24%. Several companies including Artista Networks, Inc. (NYSE:ANET), Merck & Co., Inc. (NYSE:MRK), Pfizer, Inc. (NYSE:PFE), Sirius XM Holdings, Inc. (NASDAQ:SIRI), Uber Technologies, Inc. (NYSE:UBER), JetBlue Airways Corp. (NASDAQ:JBLU), Norwegian Cruise Line Holdings Ltd (NYSE:NCLH), Caterpillar, Inc. (NYSE:CAT), Advanced Micro Devices, Inc. (NASDAQ:AMD), Starbucks Corp. (NASDAQ:SBUX), Vertex Pharma, Inc. (NASDAQ:VRTX), Electronics Arts, Inc. (NASDAQ:EA), and MicroStrategy, Inc. (NASDAQ:MSTR) are set to release their quarterly results.
August 01, 2023 | 10:52 am
News sentiment analysis
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NEGATIVE IMPACT
The Invesco QQQ ETF slipped 0.24% in premarket trading.
The fall in premarket trading indicates a potential negative short-term impact on the QQQ ETF. This is likely due to the expected reversal in US stocks.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust fell 0.22% in premarket trading.
The fall in premarket trading indicates a potential negative short-term impact on the SPY ETF. This is likely due to the expected reversal in US stocks.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Advanced Micro Devices, Inc. is set to release its quarterly results.
The release of quarterly results could have a positive or negative impact on AMD's stock price, depending on whether the results meet, exceed, or fall short of expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Artista Networks, Inc. is set to release its quarterly results.
The release of quarterly results could have a positive or negative impact on ANET's stock price, depending on whether the results meet, exceed, or fall short of expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Caterpillar, Inc. is set to release its quarterly results.
The release of quarterly results could have a positive or negative impact on CAT's stock price, depending on whether the results meet, exceed, or fall short of expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Electronics Arts, Inc. is set to release its quarterly results.
The release of quarterly results could have a positive or negative impact on EA's stock price, depending on whether the results meet, exceed, or fall short of expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
JetBlue Airways Corp. is set to release its quarterly results.
The release of quarterly results could have a positive or negative impact on JBLU's stock price, depending on whether the results meet, exceed, or fall short of expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Merck & Co., Inc. is set to release its quarterly results.
The release of quarterly results could have a positive or negative impact on MRK's stock price, depending on whether the results meet, exceed, or fall short of expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
MicroStrategy, Inc. is set to release its quarterly results.
The release of quarterly results could have a positive or negative impact on MSTR's stock price, depending on whether the results meet, exceed, or fall short of expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Norwegian Cruise Line Holdings Ltd is set to release its quarterly results.
The release of quarterly results could have a positive or negative impact on NCLH's stock price, depending on whether the results meet, exceed, or fall short of expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Pfizer, Inc. is set to release its quarterly results.
The release of quarterly results could have a positive or negative impact on PFE's stock price, depending on whether the results meet, exceed, or fall short of expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Starbucks Corp. is set to release its quarterly results.
The release of quarterly results could have a positive or negative impact on SBUX's stock price, depending on whether the results meet, exceed, or fall short of expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Sirius XM Holdings, Inc. is set to release its quarterly results.
The release of quarterly results could have a positive or negative impact on SIRI's stock price, depending on whether the results meet, exceed, or fall short of expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Uber Technologies, Inc. is set to release its quarterly results.
The release of quarterly results could have a positive or negative impact on UBER's stock price, depending on whether the results meet, exceed, or fall short of expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Vertex Pharma, Inc. is set to release its quarterly results.
The release of quarterly results could have a positive or negative impact on VRTX's stock price, depending on whether the results meet, exceed, or fall short of expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100