Stocks Dip On Rate Worries; Nvidia Backtracks From Record: What's Driving Markets Tuesday?
Portfolio Pulse from Shanthi Rexaline
US stocks are expected to continue their rally, with investors anticipating positive remarks from Federal Reserve Chair Jerome Powell and a strong quarterly report from Nvidia Corp. The tech-heavy Nasdaq Composite Index and the S&P 500 Index both closed higher on Monday, while the Dow Industrials Average and the small-cap Russell 2,000 Index closed lower. In premarket trading on Tuesday, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF both saw gains. Several companies, including Zoom Video Communications, Baidu, Tesla, and Nvidia, saw their stocks rise in premarket trading.
August 22, 2023 | 11:12 am
News sentiment analysis
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POSITIVE IMPACT
Nvidia Corp. is expected to report a strong quarterly report, which could positively impact its stock price.
The anticipation of a strong quarterly report from Nvidia Corp. is likely to increase investor confidence and drive up the stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
The Invesco QQQ ETF also saw gains in premarket trading on Tuesday, suggesting a potential positive short-term impact on its price.
The gains in premarket trading for the Invesco QQQ ETF suggest a positive investor sentiment, which could lead to a short-term increase in its price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust saw gains in premarket trading on Tuesday, indicating a potential positive short-term impact on its price.
The gains in premarket trading for the SPDR S&P 500 ETF Trust suggest a positive investor sentiment, which could lead to a short-term increase in its price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80