Market Volatility Increases Sharply After Fitch Downgrades US Credit Rating
Portfolio Pulse from Lisa Levin
The S&P 500 and Nasdaq 100 closed lower after Fitch downgraded the U.S. government's credit rating. Advanced Micro Devices (AMD) shares fell 7% after issuing Q3 guidance below estimates, while Emerson Electric (EMR) shares gained 3.8% after reporting better-than-expected Q3 results and raising FY23 earnings guidance. Amazon (AMZN), Microsoft (MSFT), and Tesla (TSLA) also saw losses.
August 04, 2023 | 12:43 pm
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POSITIVE IMPACT
EMR shares gained 3.8% after reporting better-than-expected Q3 results and raising FY23 earnings guidance.
Emerson Electric's better-than-expected Q3 results and raised FY23 earnings guidance have led to an increase in its share price. This indicates a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
AMD shares fell 7% after issuing Q3 guidance below estimates.
AMD's lower than expected Q3 guidance has led to a decrease in its share price. This indicates a negative short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Amazon shares fell amid market volatility following the U.S. credit rating downgrade.
The U.S. credit rating downgrade has led to market volatility, negatively impacting Amazon's share price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Microsoft shares fell amid market volatility following the U.S. credit rating downgrade.
The U.S. credit rating downgrade has led to market volatility, negatively impacting Microsoft's share price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Tesla shares fell amid market volatility following the U.S. credit rating downgrade.
The U.S. credit rating downgrade has led to market volatility, negatively impacting Tesla's share price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80