Market Volatility Falls Sharply, S&P 500 Snaps 4-Session Losing Streak
Portfolio Pulse from Lisa Levin
The S&P 500 ended its four-session losing streak on Monday, with the majority of sectors closing positively. Henry Schein Inc reported better-than-expected Q2 earnings, while Sage Therapeutics Inc shares fell by 54% after the FDA issued a Complete Response Letter for one of its New Drug Applications. The Nasdaq 100 rose by 0.87%, with gains in shares of Amazon.com, Inc. and NVIDIA Corp. The CBOE Volatility Index fell by 7.8%.
August 08, 2023 | 9:56 am
News sentiment analysis
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NEGATIVE IMPACT
Sage Therapeutics Inc shares fell by 54% after the FDA issued a Complete Response Letter for one of its New Drug Applications.
Negative regulatory news, such as receiving a Complete Response Letter from the FDA, typically leads to a decrease in stock price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Amazon.com, Inc. shares contributed to the rise of the Nasdaq 100.
A rise in a company's stock price can contribute to the overall rise of the index it is part of.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Henry Schein Inc reported better-than-expected Q2 earnings.
Positive earnings reports typically lead to a short-term increase in stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
NVIDIA Corp shares contributed to the rise of the Nasdaq 100.
A rise in a company's stock price can contribute to the overall rise of the index it is part of.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60