US Stocks Pause As Economic Engine Cools, Tesla Sells Off, Oil Rally Tests Goldilocks Scenario: What's Driving Markets Friday?
Portfolio Pulse from Shanthi Rexaline
U.S. stocks are expected to open higher on Friday, with optimism surrounding a potentially favorable non-farm payrolls report. Tech earnings released after Thursday’s close elicited mixed reactions. Energy stocks may see some strength as oil prices continue to rise. The SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.34% to $451.89 and the Invesco QQQ ETF (NASDAQ:QQQ) gained 0.16% to $378.59 in premarket trading. Stocks in focus include Nutanix, Inc. (NASDAQ:NTNX), Broadcom, Inc. (NASDAQ:AVGO), Dell Technologies, Inc. (NYSE:DELL), MongoDB, Inc. (NASDAQ:MDB), Oxford Industries, Inc. (NYSE:OXM), PagerDuty, Inc. (NYSE:PD), and SentinelOne, Inc. (NYSE:S).
September 01, 2023 | 11:25 am
News sentiment analysis
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NEGATIVE IMPACT
Broadcom, Inc. was down over 4% on earnings.
The drop in AVGO following its earnings release indicates negative sentiment towards the company, which could lead to a short-term decrease in its stock price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Oxford Industries, Inc. was down about 5% on earnings.
The drop in OXM following its earnings release indicates negative sentiment towards the company, which could lead to a short-term decrease in its stock price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
PagerDuty, Inc. was down nearly 11% on earnings.
The significant drop in PD following its earnings release indicates strong negative sentiment towards the company, which could lead to a short-term decrease in its stock price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Dell Technologies, Inc. was up about 9.50% on earnings.
The rise in DELL following its earnings release indicates positive sentiment towards the company, which could lead to a short-term increase in its stock price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
MongoDB, Inc. was up about 6.50% on earnings.
The rise in MDB following its earnings release indicates positive sentiment towards the company, which could lead to a short-term increase in its stock price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Nutanix, Inc. rallied and climbed over 18% in premarket trading following the release of its quarterly results.
The significant rise in NTNX in premarket trading following its quarterly results indicates strong positive sentiment towards the company, which could lead to a short-term increase in its stock price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
The Invesco QQQ ETF gained 0.16% in premarket trading.
The rise in QQQ in premarket trading indicates positive sentiment towards the Nasdaq 100, which could lead to a short-term increase in its price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
SentinelOne, Inc. was up over 6% on earnings.
The rise in S following its earnings release indicates positive sentiment towards the company, which could lead to a short-term increase in its stock price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust rose 0.34% in premarket trading.
The rise in SPY in premarket trading indicates positive sentiment towards the S&P 500, which could lead to a short-term increase in its price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80