S&P 500 Drops After Fitch Downgrades US Government's Credit Rating; Apple Flunks On iPhone Sales, While Amazon Shares Climb To 12-Month High
Portfolio Pulse from Natan Ponieman
The S&P 500 dropped after Fitch Ratings downgraded the US government's credit rating from AAA to AA+. Treasury yields reached a nine-month high, causing investors to sell equity assets in favor of bonds. Apple's shares fell due to a drop in iPhone sales, while Amazon's shares climbed to a 12-month high after reporting strong Q2 profits. Robinhood, Qualcomm, and PayPal also saw a decrease in share prices, while Starbucks' shares rose due to increased sales in China. Next week, earnings reports from Lucid Group, Eli Lilly and Company, AMC Entertainment, Fox Corp, United Parcel Service, The Walt Disney Company, Sony Group, Alibaba Group, and Novo Nordisk will be closely watched.

August 04, 2023 | 8:28 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Amazon's shares climbed to a 12-month high after reporting strong Q2 profits.
Amazon's shares climbed due to strong Q2 profits, indicating a positive financial performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Starbucks' shares rose due to increased sales in China.
Starbucks' shares rose due to increased sales in China, indicating a positive financial performance.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Apple's shares fell due to a drop in iPhone sales.
Apple's shares fell due to a drop in iPhone sales, which is a major revenue source for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Robinhood's shares dropped after the company reported a drop of monthly users.
Robinhood's shares dropped due to a decrease in monthly users, indicating a potential decrease in revenue.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
PayPal's shares dropped after the company reported a decline in active user accounts.
PayPal's shares dropped due to a decline in active user accounts, indicating a potential decrease in revenue.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Qualcomm's shares dropped after the company reported a yearly drop in revenue.
Qualcomm's shares dropped due to a yearly drop in revenue, indicating a negative financial performance.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100