US Stocks Mixed, Treasury Yields Soar To More Than A Decade High: What's Driving Markets Monday?
Portfolio Pulse from Shanthi Rexaline
US stock futures suggest a potential rebound as traders anticipate Nvidia's earnings and the Jackson Hole Symposium. Last week, stocks closed lower due to fears of aggressive interest rate hikes. The S&P 500, Nasdaq Composite, and Dow Industrials all recorded losses. Analyst Quincy Crosby suggests that the market may wait for Jerome Powell's comments at the Jackson Hole conference before reentering. China's financial issues could also trigger a slide in financial markets, leading to increased investment in the US Treasury. In premarket trading, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF both saw gains. Stocks in focus include Palo Alto Networks, Tesla, Nvidia, and Nordson Corp.
August 21, 2023 | 10:59 am
News sentiment analysis
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NEUTRAL IMPACT
Nordson Corp. is scheduled to release its quarterly results after the market close.
The upcoming release of Nordson Corp.'s quarterly results could impact its stock price, but the direction of the impact will depend on the results.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Nvidia's upcoming earnings report is anticipated by traders, potentially offering support to the tech space.
The anticipation of Nvidia's earnings report suggests that traders are expecting positive results, which could boost the company's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Palo Alto Networks rallied nearly 13% in premarket trading following its quarterly results.
The significant premarket rally suggests that the market reacted positively to Palo Alto Networks' quarterly results, which could lead to a rise in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
The Invesco QQQ ETF gained 0.55% in premarket trading.
The premarket gain suggests positive sentiment towards the ETF, potentially leading to a rise in its price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust saw a premarket gain of 0.39%.
The premarket gain suggests positive sentiment towards the ETF, potentially leading to a rise in its price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Tesla rose over 3% in premarket trading, rebounding from a six-session losing streak.
The premarket rise suggests that Tesla is rebounding from its recent losses, which could lead to a rise in its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80