US Stocks Drop As Rising Dollar, Treasury Yields, Oil Prices Weigh On Sentiment: What's Driving Markets Wednesday?
Portfolio Pulse from Shanthi Rexaline
Trading in the index future suggests a lackluster session for stocks on Wednesday. The futures market has priced in a 93% probability of a pause at the Federal Open Market Committee meeting, given growing evidence of a slowdown. The SPDR S&P 500 ETF Trust (NYSE:SPY) moved down 0.14% to $448.59 and the Invesco QQQ ETF (NASDAQ:QQQ) fell 0.25% to $377.14 in premarket trading. Stocks in focus include AeroVironment, Inc. (NASDAQ:AVAV), GitLab, Inc. (NASDAQ:GTLB), and Zscaler, Inc. (NASDAQ:ZS) due to their earnings reports.
September 06, 2023 | 11:12 am
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NEGATIVE IMPACT
GitLab, Inc. fell over 5.50% in premarket trading in reaction to their earnings reports.
The company's stock price is decreasing due to negative reaction to its earnings report.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
The Invesco QQQ ETF fell 0.25% in premarket trading.
The futures market has priced in a 93% probability of a pause at the Federal Open Market Committee meeting, which could be causing the decrease in price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust moved down 0.14% in premarket trading.
The futures market has priced in a 93% probability of a pause at the Federal Open Market Committee meeting, which could be causing the decrease in price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Zscaler, Inc. slipped more than 1% in premarket trading also in reaction to their earnings reports.
The company's stock price is decreasing due to negative reaction to its earnings report.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
AeroVironment, Inc. is jumping over 15% in premarket trading following the release of its quarterly results.
The company's stock price is increasing due to positive reaction to its quarterly results.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 100