US Stocks Surge, Defying Fed Concerns; Dollar Notches Sixth Green Week: What's Driving Markets Friday?
Portfolio Pulse from Shanthi Rexaline
US stocks are expected to rebound despite investor confusion ahead of Federal Reserve Chair Jerome Powell's Jackson Hole speech. The market's response to Nvidia Corp.'s impressive quarter has been subdued. Stocks declined notably on Thursday, with IT, communication services, and consumer discretionary stocks under severe selling pressure. In premarket trading on Friday, the SPDR S&P 500 ETF Trust rose 0.31% and the Invesco QQQ ETF gained 0.10%. Affirm Holdings rallied over 8.60% in premarket trading following the release of its quarterly results, while Marvell Technology fell about 4.50% despite a second-quarter beat. Hawaiian Electric Industries plunged about 22% after S&P downgraded the company.
August 25, 2023 | 11:02 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Affirm Holdings rallied over 8.60% in premarket trading following the release of its quarterly results.
The rally in Affirm Holdings' stock in premarket trading following its quarterly results indicates a positive response from investors, which could potentially lead to a short-term increase in its price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
The Invesco QQQ ETF gained 0.10% in premarket trading on Friday.
The rise in QQQ in premarket trading indicates a positive sentiment among investors, which could potentially lead to a short-term increase in its price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust rose 0.31% in premarket trading on Friday.
The rise in SPY in premarket trading indicates a positive sentiment among investors, which could potentially lead to a short-term increase in its price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
Nvidia's impressive quarter has received a subdued response from the market.
Despite Nvidia's strong earnings, the market response has been subdued, indicating that investors may be waiting for other factors, such as Powell's speech, before making decisions.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Hawaiian Electric Industries plunged about 22% after S&P downgraded the company.
The plunge in Hawaiian Electric Industries' stock following S&P's downgrade indicates a negative sentiment among investors, which could potentially lead to a short-term decrease in its price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Marvell Technology fell about 4.50% despite a second-quarter beat.
Despite beating second-quarter expectations, Marvell Technology's stock fell, indicating a negative sentiment among investors, which could potentially lead to a short-term decrease in its price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90