Stocks Rally Ahead Of Nvidia's Earnings; Treasury Yields Plunge On Soft Data: What's Driving Markets Wednesday?
Portfolio Pulse from Shanthi Rexaline
Positive expectations for Nvidia Corp.'s Q2 earnings and the recent market pullback are expected to cushion the market on Wednesday. The market is also awaiting Fed Chair Jerome Powell’s speech at the Jackson Hole Symposium on Friday. Stocks closed mixed on Tuesday, with the Nasdaq Composite Index closing marginally higher, while the S&P 500 Index, Dow Industrials and Russell 2000 Index experienced losses. In premarket trading on Wednesday, the SPDR S&P 500 ETF Trust and the Invesco QQQ ETF gained. Several companies including Nvidia, Urban Outfitters, Advance Auto Parts, Peloton Interactive, Williams-Sonoma, Foot Locker, Analog Devices, and Kohl's Corp. are set to release their quarterly results.
August 23, 2023 | 11:14 am
News sentiment analysis
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POSITIVE IMPACT
Positive expectations for Nvidia's Q2 earnings could potentially boost its stock price.
The market is expecting positive Q2 earnings from Nvidia, which could lead to an increase in its stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The Invesco QQQ ETF gained in premarket trading on Wednesday.
The Invesco QQQ ETF gained in premarket trading, which could indicate a positive short-term impact on its price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust gained in premarket trading on Wednesday.
The SPDR S&P 500 ETF Trust gained in premarket trading, which could indicate a positive short-term impact on its price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Urban Outfitters surged over 7% in premarket trading following its quarterly results announcement.
Urban Outfitters' stock surged in premarket trading following its positive quarterly results, indicating a positive short-term impact on its price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100