US Stocks Falter On PPI Data, Nasdaq Hits 1-Month Low: What's Driving Markets Friday?
Portfolio Pulse from Shanthi Rexaline
US stocks are expected to open lackluster due to firmer bond yields and awaiting inflation data. Despite recent weakness, tech sector stocks are trading at unsustainable valuations. Analyst Tom Lee of Fund Strat suggests that the lackluster market movement in August should not worry investors. In premarket trading, SPDR S&P 500 ETF Trust fell 0.08% and Invesco QQQ ETF moved down 0.22%. Virgin Galactic Holdings climbed over 3% in premarket trading after a successful civilian space flight, while Tesla pulled back by over 1%.
August 11, 2023 | 11:17 am
News sentiment analysis
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NEGATIVE IMPACT
Invesco QQQ ETF moved down 0.22% in premarket trading.
The ETF is expected to open lower due to firmer bond yields and awaiting inflation data.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
SPDR S&P 500 ETF Trust fell 0.08% in premarket trading.
The ETF is expected to open lower due to firmer bond yields and awaiting inflation data.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Tesla pulled back by over 1% after Thursday's outperformance.
The stock is expected to open lower after outperforming on Thursday.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Virgin Galactic Holdings climbed over 3% in premarket trading after a successful civilian space flight.
The stock is expected to open higher due to the successful civilian space flight.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100